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Old 04-24-2011, 12:19 AM
 
5 posts, read 23,319 times
Reputation: 16

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We are trying to buy our first house here in Va Beach. This is our 2nd time trying (we tried in 2009 but it was so competitive). I'm afraid that is happening again. Everytime we see something we like, put in offer on, next thing you know the house is outbid by someone else.

What is up with that here? It shouldn't be called putting an offer....it should be called a bidding war.

Sooo frustrating!
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Old 04-24-2011, 09:46 AM
 
3,848 posts, read 8,633,345 times
Reputation: 2012
At no point, even during the low of the low, did good houses at good prices sit with a for sale sign in the front yard.

That goes for any place in the nation. If you have a good house, at a good price, in a good location, it will sell fast.

The only suggestion I have is to act faster, unfortunately.
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Old 04-24-2011, 12:34 PM
 
6,160 posts, read 9,432,864 times
Reputation: 7278
We were outbid on the first 3 we bid on in VAB (2 years ago). Finally we got our 4th one which turned out to be a better deal. Don't give up hope.
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Old 04-25-2011, 11:54 PM
 
Location: Hampton Roads VA
18 posts, read 49,066 times
Reputation: 14
Quote:
Originally Posted by vabeachnative View Post
We are trying to buy our first house here in Va Beach. This is our 2nd time trying (we tried in 2009 but it was so competitive). I'm afraid that is happening again. Everytime we see something we like, put in offer on, next thing you know the house is outbid by someone else.

What is up with that here? It shouldn't be called putting an offer....it should be called a bidding war.

Sooo frustrating!
You are in a high demand area, even with the current market. You are also shopping during the busiest season of the year. Spring and Summer are traditionally busy for real estate however the Hampton Roads area is special because this is also when the largest number of military families are transferring in and out of the area and some like my clients have been shopping online for months with me before even putting a foot in the state.

Hopefully you have an experience RE agent that can assist you to avoid some of the pitfalls of getting outbid.
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Old 04-26-2011, 06:11 AM
 
Location: Williamsburg
1,184 posts, read 3,693,471 times
Reputation: 405
The market is definitely heating up. I had a listing that was on the market for six months with no offers, all of a sudden we got FIVE OFFERS, buyer paid more than list. Hopefully you are working with an aggressive agent who is on top of the market. I sold two homes this month that never made it into the MLS. Ask your agent if they know of any upcoming listings, maybe you can get a jump on the competition. Have you looked at higher priced homes ? There are a few sellers who will entertain very aggressive offers. Can't hurt and don't worry about upsetting them.
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Old 04-30-2011, 12:16 AM
 
5 posts, read 23,319 times
Reputation: 16
Thanks for all the advice. We just found one in the morning. Went back a few hours later to make sure before putting an offer and next thing you know it was under contract!

I don't see any listed right now that fit what we are looking for. Trying to stay hopeful
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Old 04-30-2011, 10:45 PM
 
2 posts, read 3,193 times
Reputation: 10
Can I ask who your working with? A good agent can make all the difference.
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