It appears to some that we are back to 2004 to 2006 in regards to multiple offers on many properties.  This time the majority are bank owned properties.  What’s going on??   What’s going on is that the prices have dropped so dramatically that many people can now afford to buy a house again.   In addition to that, investors can now buy a property for a rental and actually have a positive cash flow.  So with the increased demand and the reduction in bank owned inventory, buyers are lining up.  This is both good and bad.  Good for the seller and the one who gets his offer accepted but bad for the many who can’t compete with cash offers or buyers with large down payments.  If you are a buyer, be prepared to write clean sensible offers.  Don’t believe what you hear or read about being able to “steal” a home for just pennies on the dollar.  Are we out of the woods yet?  We don’t think so. Even with signs of multiple offers & lower inventories, we still believe that the housing market will not recover until the economy and unemployment improve.  What do you think?