Prices are low, but so is inventory — catching some buyers unaware.
In an age of high foreclosures and rock-bottom home prices, bidding wars are breaking out for some metro Atlanta homes.
The hot competition is spurred by shrinking inventory and a run on homes with one or more desirable traits, such as good public schools, nearby amenities and competitive prices. Buyers also want homes in fully developed subdivisions and in locations that have maintained values, such as Buckhead, south Forsyth County and trendy intown neighborhoods.
Those seeking such homes have been caught unaware.
The competition for homes started in early winter as homes sales rose, and the bidding peaked in March, though multiple bids are still happening.
Source: Atlanta Journal Constitution