​Exuberant Frothiness in Seattle?

[Doug N.]

This is my first post and before I continue, I'd like to thank the BP community for their extreme awesomeness. I have learned a lot in an incredibly short time - 3 weeks - and I see no end in sight for learning much more. This is possibly the best source of US REI advice on the planet, no question.

So... I was writing what was supposed to be my first post (about the blog Calculated Risk), and in the process I looked into some Seattle statistics. I went to Seattle Bubble, and then to Redfin, and what I saw was very interesting, and a bit surprising to me.

I read Tim Ellis' April post about a fellow who purchased a Fremont townhouse (Silicon Channel?) in May for $745,000. I read through the comments and saw folks talking about multiple escalation clauses, 100k+ bid-ups and the like, and it really made me think this would be a great topic for discussion. There could be many issues at play here, and I am writing a post about it in hopes of getting some diverse opinions. I'm looking at Snohomish County for MF at some point in the future. I am pretty familiar with the area, having tracked it closely from 2005-2009.

Before posting, I did a quick search on Seattle and saw Adrian Chu's response to a post about the Seattle market (great stuff, Adrian!) and I'm hoping some King/Snohomish county folks can chime in with their take on this.

This is the image that made me want to write this post:

Does it look like Seattle has the measles?