Bidding War in Long BeachWith the economy the way it is, why is there such a bidding war for homes in Long Beach, Ca and surrounding cities? I would think it's a buyers market but from the looks of things, it's a sellers market. There are multiple bids per property and going above asking price. What is wrong with this picture??? Also, Long Beach has dropped approx 20%-25% in home values, how much lower can it go next year? Any thoughts? August 01 2009 - Long Beach00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.