I have seen the run-up here in Las Vegas that was caused by so-called investors who came from other areas because the Las Vegas market was so hot.

I'm sure in a cold rental market you would want to be more careful with your increases, while in a hot market, you could probably get away with raising the rent a bit more then that.

I create my ad in www.postlets.com, and it syndicates the ad out to all kinds of sites - Hot Pads, Trulia, Zillow, etc.

I have been researching the market in DFW, and I know is pretty hot right now, and it will be more expensive in 2 years.

In the bay area instance, the average median income household cannot afford to buy a home.

Richmond is hot these days which is why the seller may think they can get more than market value, but in my experience the bump is usually only a few thousand more than market, not 20k more.

Oxon hill and Temple hills areas in MD are definitely hot spots now with the coming of he new Casino in the National Harbor.

By the 1940s, New York was passed over by Argentina as the new hot spot for a new life.

http://www.biggerpockets.com/renewsblog/2015/07/15/bp-podcast-131-investing-in-multifamily-properties-in-a-hot-real-estate-market-with-serge-shukat/

Jeff Joachim, Sarasota/Bradenton market is very hot.  3.5-4 months inventory.