[quote=Rt.66]Why on earth in today’s climate would you want to “compete” for a house?

The banks and Realtors are the only ones who can possibly come out winners.

Do a little research.[/quote]

In the recent months, I have made offers on over 10 houses in Mira Mesa. I generally looked at the house condition and recent sales and came up with my offer price. I did not look at the asking price at all. I got overbidden in almost all of them. And this is the only house that the final closing price is below my offer price. For most of them, the final sale price is 10k more than I offered.

My feeling is that you need to be very lucky to get the deal as good as it appears on the closing price. This pretty surprised me considering the current economic situations. When I sat on the sideline, I thought that this is buyer’s market and I would definitely get the house if I am willing to offer the listing price. But my experience told me otherwise.