Where is the bottom of the market?

For some parts of California, we might be getting there. Some of our clients are finding themselves in bidding wars (or too late to the bidding wars) on Sacramento homes. I’ve heard reports of 10+ offers on some properties. This isn’t necessarily good news for people who are considering selling their homes though – the homes in question are foreclosures and are selling for somewhere in the neighborhood of half their value at the peak of the market.