As most of you know I have noticed a slow shift from a buyer's market to a sellers market in San Luis Obispo. I have pointed out the "green shoots" as they appear. One of these is a foreclosure for sale in Paso Robles for $149,000. There was a bidding war for the property, and I talked to the winner. Now mind you, this is a real fixer, and needs work. The buyer acted like she won the Mega lottery! It went pending in 3 days! Just 6 months ago it would have been on the market for weeks, and it would have sold for less. I asked her how many bidders there where and she responded "several". On my web site- www.myslohomefinder.com I have noticed a 50% increase in buyer traffic since the first of the year.
I have attached a link from NPR that also points out what I have noticed on a national scale-
http://www.npr.org/2012/03/28/149532567/spring-brings-some-green-shoots-in-housing-market
Above charts is from the NAR, and shows the drop in homes for sale inventories nationwide
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