Industry News

Real estate bidding wars heat up

Julie from Hollywood

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Battle scars are everywhere as another banner real estate year draws to a close here in Los Angeles. To make matters worse, it's an enticing 80 degrees outside and everyone seems stressed to the max with the holidays on the horizon and no time to enjoy them since the traffic is out of control. In the midst of all this bliss, buyers are still feverishly running around trying to see the few new listings that might push them into the ultimate hell of trying to comply with inspection deadlines and other escrow requirements while trying to enjoy all the holiday cheer. One would assume that these buyers must have nerves of steel to be putting themselves through the emotional anxiety of a year-end accepted offer. Yet, it's just the opposite. It reminds me of the baseball announcer yelling, "It's a swing...and a miss." What could these buyers possibly be thinking to have let themselves be outbid on two houses in the last five days? What is a buyer to do when there are multiple offers chasing ...