patrick.net

From that article:

Properties are getting multiple offers within a few days of being on the market, the most offers I’ve heard a house had recently was 44 offers

How about another alternative, such as anecdotal realtor BS/fear tactics? Just look at the inventory for greater LV. It's almost absurd. Why do reporters quote realtors at all?

when the bidding process is 100% open to the public, then we shall see how many offers are coming in, and then the banks might see that the REwhores are part of the problem and adopt a more direct sales approach, such as an open public auction with only pre-appoved bidders in the crowd.

Until I see a pile of ligitimate offers on a desk - I will continue to think of mutliple offers as Bigfoot .... hear alot about 'em, but don't see 'em much. Or, even better, when an asset man. is quoted as saying how much more "the selling bank likes cash" - another REwhore favorite quote.

It's a real estate reporter. She's trying to find a different angle than others. I knew people whose home are for sale in those ranges who haven't had an offer or even lookers. In vegas. I wouldn't say her story is fact.

And if I were her, I certainly wouldn't take my advice from the "realtor" who: "bought her brand new home in 2005 for $240,000. According to the comps she runs daily, she says it's now worth between $90-110,000. So in January she decided to stop paying her mortgage. No financial hardship, she just figured she was throwing money away. The bank hasn't gotten to her yet, so she's just been living there for free. At some point, she knows, her bank will foreclose, but she's fine with that. She says she'll do far better financially renting for a while."

Yea, now is the time to buy - just apparently not to own.