This morning, as I was glancing over articles in both The Wall Street Journal and the Los Angeles Times that the one billion dollar Cash for Clunkers program has been so popular there’s no money left, I thought:

What does this have to do with the Real Estate market?

You know from reading our newsletters and housing statistics reports that inventory is way down and prices are finally strengthening.

This is in large part because just as folks are taking advantage of the Cash for Clunkers program, folks are taking advantage of the first time homeowners $8,000 tax credit in the real estate market. Also about 1/3 of the homes for sale are foreclosures. There’s such demand for these homes that buyers are bidding up the prices and we’re seeing bidding wars!