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For those buying or selling a home in today's ultra-competitive real estate market, time is not a luxury afforded to most. Decisions are made quickly, with many buyers in particular left to worry that they're setting themselves up to make a costly mistake.

Of all the real estate terms referenced in the media, “bubble” might be the most overused. Over the past few months, the word has seen a resurgence, with prospective buyers and sellers worrying that the white-hot markets of 2020 will lead to a proverbial burst in 2021.