I’m not sure why people are getting worried about these bid wars. Just look at it as the knife-catcher is helping to bring down the comps and the next guy selling will have to lower his price to match what’s sold. This will not be the last house in Clairemont selling in this price range. Aren’t more loans resetting next month? Stick around til the end of the year to see what the inventory is like. I think these low prices will be the norm and those who got in a bidding war on them now will feel foolish later.
I could be wrong. These are JMOs based on inventory, defaults, foreclosures, tightening of credit, sales activity, stealth inventory, etc.
