Straight out of Compton (alright... more like some milder outskirts of the city). Here's a direct quote from my old school friend on her house hunting experience:
"Hopefully this offer we've made on a 5th house will be the one that goes through. I'm not holding my breath, though, it's crazy out here in So. Cal. I'll call you when we finally give up and move back to Chicago. :)"
She's getting beat-up by short sales and multiple offers in the "middle-class" price-point.
Here in Chicago, a few colleagues of mine and me were talking about how we can't find our motivated buyers anything worth buying...yes, you heard me. We just don't see that magic great place that offers value too often. You gotta be READY and act fast or end up like my friend and her "L.A. Story".