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Is this the Bottom? Lake Forest foreclosures launch bidding war

From today's Register;

Realtors say they can't write offers fast enough to keep up with the demand for foreclosed homes.

Investors and first-time buyers are finding a plethora of inventory priced below $500,000.

"There are multiple offers outbidding each other," said one Realtor, "I recently wrote an offer $50,000 above the asking price and was the 26th agent in line. They didn't allow me to put the offer in."

I think I hear the bell!

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Posted by Len Malena - OC Realtor on 04/02/2009 02:46 PM

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