Step Inside This Southern California Auction, And See Why The Housing Market Is Booming

southern california housing auctionThe house for sale.

Photo: Jim Klinge

Bill McBride recently told us he’d visited Temecula, CA and discovered a economy in full recovery mode.We wanted to see what he was talking about, and now we have some evidence.

Jim Klinge, a realtor based down the road from Temecula in Carlsbad, sent us a video of a gaggle of bidders for a 1,500-square-foot home in San Marcos going for $399,999.

We screengrabbed the most dramatic, competitive moments of the process.

Watch as the bids keep rising.

Some hungry eyes here: 

Watch this woman — you'll see why later. She's actually representing a client, who's at a kid's birthday party. She opens with a bid of $405,000

This couple — their agent is on the left — decides not to bid.

This couple goes $406,000

This woman goes $407,000, no hesitation

But our phone lady is ready to battle — she ups to $408,000.

That leaves the middle-two bidders flummoxed. They pass

So do they

The sundress woman is game — she goes $408,500

Now everyone is freaked

We assumed this couple, which sat out a round, would be finished

But they surprise everyone by going $409,500

This couple is stunned. They tap out

The woman in the sundress retreats, presumably to make a phone call. Klinge warns it'll be all over in 60 seconds. Her agent goes to grab her

Our texter begins to type furiously. She will not be deterred

Meanwhile, the sundress woman returns: $410,000.

Barely looking up from her phone, our texter goes $410,500. Again, we assumed she will clinch it with this

But it's not over yet: this couple bids $411,000

So now it's down to these two

The text comes through: $411,500

Silence

Indeed: SOLD

It's all over. This group can't believe they wasted their time. They're outta here

This woman's a little more polite. Thanks for playing

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