by CalculatedRisk

Here is a great local story on housing in the D.C. area. From "Real Estate Roulette" by Hillary Howard:

"It's expensive to buy a house. Around the Beltway it's not just expensive -- it's hard. Buyers are routinely offering 10 to 15 percent over the seller’s asking price and they're still not getting the deal. Many buyers are even putting escalation clauses in their offers. And, some of those escalation clauses promise to outbid the highest offer. This is what it's come down to."

Check out some of the audios too - in "How Many Contracts Come In?" one house had 41 contracts!

Part 1: How Hot Is The Market?

Part 2: How Competitive Is It For Buyers?

Part 3: How Many Contracts Come In?

There are six more segments at the WTOPNews site.