Hasvold gives perspective on 'crazy' real estate market

"I've been selling real estate in Fallbrook for 40 years now and I've never seen a market like this," declared Chris Hasvold, owner of Coldwell Banker Village Properties. "I thought I'd seen everything, but this year is so different and crazy."

He went on to explain why the current situation is great for sellers, but difficult for buyers, as well as other real estate insights. The reason home prices have skyrocketed is low interest rates, shrinking inventory of homes on the market, and high building costs.

The result is not only high prices, but also buyers resorting to a bidding war for a des...