Thomson ReutersFebruary 11, 2014 12:48
By Beth Pinsker
NEW YORK (Reuters) - The view of the Pacific Ocean from the San Joaquin Hills in Newport Coast, California is extraordinary. So, when Mohammad Taghavian started looking for a new home four years ago, he knew exactly where he wanted to be.
The housing market, however, wasn't so cooperative.
Taghavian, a 47-year-old engineer, jumped at any property that came on the market, only to find that whatever he bid, he was "edged out by a cash offer," he says.