All over America in the most desirable communities, there are more buyers than nice homes in great neighborhoods. The results are bidding wars and houses selling for more than their assessed value.
Many of my friends who are aggressively looking for a home to buy have lost countless homes when their bid came in too low with multiple offers. Many are starting to get angry at their real estate agents. They think the agent is not very good at estimating the true value of the home in this crazy market.
But who is really at fault? Anyone? Maybe you? If you kept losing out in your offers who gets the blame?