Bidding Wars Still Alive and Well

A friend I work with found a house on Phinney Ridge and fell in love with it (above). It was a quintessential Craftsman with tulip leaded-glass windows, gleaming hardwoods, built-ins, and crown molding. It was listed at $499,950 and her realtor warned her it could be "competitive." And competitive, it was. My friend and her fiance bid $525, thinking they were in the running. What they didn't know was 10 other folks got their Jones up for the place, too, and it ended in a bidding war, with the "winner" buying at $599. My friend didn't get it. What she did get was a good dose of bidding wars, Seattle style.