Due to exceptionally low interest rates and low prices as a buyer it can be a challenge to not only find a place you want to purchase but also to have your offer accepted. Many properties are receiving multiple offers within the first 24 hours. For sellers this is great news, but for buyers it can be a frustrating experience.
What to expect?
As a buyer if you are putting down less then 20% expect to make multiple offers on different properties before you will find an offer that will be accepted. If you are putting down more then 20% or even making an "all cash" offer your chances of having an offer accepted increase dramatically.
How much to bid?
In January 2013 the average price for a single family home in Newport Beach was $1,730,597 and…