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Chief
It's a seller's market on your location. The seller has no reason to except an offer that is less than the other 10 credible ones they have on the table. Many with extra incentive as you mentioned.
Bid what you think is reasonable or what you are willing to pay. But be prepared to be outbid. Volume helps, in that you may ultimately end up with a lucky swing on something.
And keep in mind that lower interest rates means that people can afford and get approved for higher loan amounts.
Just offfer what you think it’s worth and what you’re willing to pay . Keep in mind it may get rejected
Time on the market is telling the owners it’s overpriced since things that are going quick that people desire. You can either wait for the price to drop and put an offer in so that you can get it at a price you want, or put the offer in now and see what happens.
Look for foreclosures or homes you can build equity and fix up.
Sellers can list whatever price they want. But generally if you’re below 90% of ask I think it’s a tough starting point. Sounds like your area is a sellers market, so chances of winning once starting at 90% of ask would be very low.
Don’t waste your time here. Give a call to the seller’s agent. She will give you an idea about what’s acceptable