An article featured on money.msn.com brought the current state of the real estate market to attention. The article notes the rapid increase in housing competition in specific parts of the country including coastal California markets, Phoenix and Tucson, Las Vegas, Denver, Boston, Seattle, Portland, the Washington, D.C. metro and several Florida markets. Homebuilder lotteries, camping outside of properties and buying homes sight unseen are once again becoming a trend. The article states there was a 7.3% price rise nationally and it could rise an addition 3% this year. Properties in these areas are receiving anywhere from 20-50 offers within the first day or two of listing. Additionally, properties are being sold well above the original asking price due to the red-hot competition.
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