The Lake Tahoe and Truckee real estate market is recently experiencing bidding wars again on homes for sale. There are many buyers and investors waiting on the sidelines for that perfect property. And when they see it they don’t hesitate to make an offer well above asking price! This leads to multiple offer situations and homes often sell for above asking price.
Below is an interesting article from the Wall Street Journal entitled Stunned Home Buyers Find the Bidding Wars Are Back. The article talks about the shock this is to buyers and how they are experiencing bidding wars on real estate. The article was written by Nick Timiraos on April 27, 2012. Click on the link to read entire article.
What does this mean for you? If you are a buyer, do not hesitate to move forward on a property if it is the one you want! It may not be available tomorrow!