Looking back on my past blogs, whether it was on MySpace 2 - 3 years ago, other social network sites and here within the past year, I never anticipated having too many buyers and not enough suitable properties. Well here we are in San Diego, and finally the word has sunk in, 'buy now before it's too late' - a subject I tried to promote throughout last year and thankfully a lot of buyers realised at the beginning of this year. However, now it's August, there's a complete dearth of foreclosures, a ton of short sales and hardly any regular sales suitable for first time homebuyers. Feeding frenzy has begun, but with the majority of homes available being short sales, all with multiple offers over asking, what's a buyer to do? Especially at the lower end of our market. Just within the past 3 months what could be purchased then, is gone now, and frustration is met not only by the buyers, but me too. With the pricing of short sales/foreclosures at unrealistically low prices, I mean, believe me, a home that was foreclosed on this year for $430k and is priced now at $171k simply to attract a tidal wave of interest, sends out the message that lenders are the sharks out there and buyers are the chum. Seller's market here we come, oh no, it is already here, let's hope the next 'wave' or splash of foreclosures will help because my buyers who are trying to buy their first homes are swimming in a whirlpool and not getting to the top anytime soon. Follow me at http://twitter.com/SDRealEstate