[Yahoo! Homes editor's note: This is a guest post by Jacqueline Shannon of Zillow.]
The residential real estate market is finally rebounding. The overall economy is improving. New families are being created at a brisk pace. But the number of homes currently on the market has dramatically declined over the past year, especially in the usual highly desirable areas. In San Francisco, inventory is down 47 percent; Silicon Valley, 45 percent; San Diego, 30 percent; Chicago, 26; and Washington, D.C., 19.
Love letters
What’s all that spell? In those and other hot markets, we’re back to the days of camping out all night to get a shot at a house in a new development. Here come all-cash offers and multiple bids well over listing price. Add in stirring emotional letters to sellers from buyers who want to stand out from all the other bidders. Here’s one
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