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Pre-emptive Strikes

Think bidding is getting a little crazy in the SF housing market? Coldwell Banker reports that not only are offers getting higher, they're getting faster. "Buyers and their agents are getting the idea that the preemptive offer really has to be significantly over the asking price." The record-breaking bidding wars surge most desperately over "homes under $1.5 million," a species rare and possibly near extinction in the current craziness. [CB SFBay Marketwatch/photo via Sotheby's]