Foreclosure Bidding Wars

We are seeing this at an extreme here in South Florida.  I know someone who offered $38,000 above the asking price, all cash, and didn’t get it.  If you want to buy you better start looking now because it will probably only get worse.

“After months of looking at homes and being outbid at least 15 times, first-time home buyers Lance Thorson, middle, and Kelli Thorson, right, with 2-year-old daughter Mia, are now making offers on houses before they even see them.”

http://www.msnbc.msn.com/id/32011159/ns/business-real_estate/