Double Dipping

[Kristian Peter]

Over the last 3 months, the volume of offers has been extraordinarily low, here in Southern California (like 4 offers this week on 51 active properties in the MLS, and all properties are REOs that are priced to sell in the first 30 days). Everyone has been clamoring that "it's the expiration of the tax credit", and there are no other buyer incentives. Well, that may be the case, but now the summer (buying season) is officially coming to an end, and available properties on the market are increasing steadily...

Are you ready for the next Dip, which is going to be BIG... What are your thoughts on how much value will be lost in your area during the next 12 months?