Market Conditions

The low end of the housing market has definitely taken off. There is increased demand for foreclosure properties compared to only a few months ago. In some places prices have fallen more than 50% from the market peak in 2005.

I'm writing purchase contracts on homes priced at $250,000 and below in the Bay Area that have anywhere from 5 to as many as 21 offers! Cash is still king, but banks are looking for the highest net to the seller regardless.