I just posted an article on the 2013 apparent housing bubble.
April 2013, the more things change, the more they stay the same. It seems like Deja Vu all over again.
There are very few listed houses, multiple offers, bidding wars, double digit price inflation, and listed houses are on the market for a very short time. Seems like all of the ingredients for yet another housing bubble that is about to burst, even when considering most owner-occupant buyers are putting down 20% or more of the purchase price and surviving very onerous bank qualification criteria.
Appraisers are still getting their fair share of criticism. Instead of appraising high (like just before the 2008 housing crash), appraisers are now under very strict guidelines imposed by new federal and state regulations that are forcing appraisers to estimate low comparable sales values. This disconnect between appraised value and what highly motivated buyers are offering is causing contracts to fall out of escrow or causing the buyers to come up with more down payment…
You can read the full article by clicking here.