Is it getting too crazy out there?

[Cheryl C.]

Today something went on the MLS (short sale) at 10am. By noon the key was gone. By 2pm the lister amended the MLS to say "no more contracts/requests for combo". Bubble? Good deal? Asking 145K, comps (all distressed 200K). The DC area has been decently off the 2009 lows. What's up? Step up or step back? There is alot of cash chasing few deals.

[Jeffrey K.]

I think it is the same for all of us in decent areas. If it were easy everyone would be doing it.

The problem that I see it professionals who have saved some extra money who hear it is the time to get into real estate buying one or two houses not understanding the market and driving prices up. This is why you want to look at 5-20 unit buildings that would keep away the first timers and are too small for the big guys.