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Denver house-bidding wars covered by WSJ

The Wall Street Journal took a look at bidding wars for homes in Denver.

Excerpt:

Christina and Kevin Dirks have been searching for a house in the Denver area for four months at prices up to $275,000. They made offers on six homes -- and were outbid on each one.

"When we first started looking, you had to pay $10,000 over" list price to win the bidding, Ms. Dirks said. "Then, as the weeks went by, it went up to $20,000. And now it’s up to $30,000 and $40,000."

Ms. Dirks, a 28-year-old office coordinator, said she and her husband, a 30-year-old merchandiser, hope that as the market slows down this winter, "people will put a halt on being so crazy."

Read the rest here.
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