A strange phenomenum is happening in Orange, Riverside and San Bernardino counties.  With all the doom and gloom we are reading and hearing about, most of the properties on the market are receiving multiple offers. One of my clients is interested in a property in Murrieta which has been on the market for 3 days.  I called the listing agent and asked him if he had any offers.  He told me he "only" had four, but clarified the situation with the added words "so far".  He indicated he has had an unusual amount of phone calls regarding showing the property.  I told him I was very aware of the situation in that area, as I have a client who has made at least 7 or 8 offers in the last 6 months only to be turned down because of other offers.  We are making offers as much as 10% over list price and my buyer is well qualified.  I am running across the same problem in Orange and one of my friends is an agent in Rancho Cucamonga and she is experiencing the same situation.  She also told me there is on company that will not accept an offer from you, but will only "allow" you to give them your buyer and they will pay a 25% referral fee.  Is this crazy?  I have heard from numerous sources a couple of things that relate to this situation.  I know for a fact there are several asset management companies sitting on their hands waiting for new listings.  They have been told they will be coming in about 60 days.  Because of the moratorium, which was lifted on May 1st, the  people who are 4 to 8 months in arrears will be foreclosed on.  I have also read that only 37% of the foreclosed properties are currently listed, which means 63% have not been released for listing.  What does this all add up to?  A very scary situation for sellers, but a great situation for buyers, assuming rates are still around the same level.  On the other hand, it will probably mean that the worst will be over in the next 6 months or so-but what a tumultous 6 months it will be.  These are very interesting times!!!!