Real Estate

whats going on with real estate these days?

Here is what is going on, me and my gf are looking to buy a home. We are first time home buyers and are looking to buy a house or condo.
We have placed bids on about 8 places so far. We started out bidding under the asking price and soon learned that would not be even considered. So we keeped over bidding more and more.
Our price rang is $80k and under. The last place we looked at was a condo listed at $59,900 so we bid $74,000 asking for nothing back. So we bid $14k over asking. It was a foreclosure as is everything else we are looking at. We are not even bothering with short sales as we hear it will take forever and chances are very low you will get it.
We are getting very discouraged and seems we will never get anything. We are looking in Bonita Springs and Naples, Florida. If anyone has any info that may help it would be great. Thanks!

Your area must be showing signs of stability. Also, keep in mind foreclosed homes are usually already listed below market value and cause bidding wars to raise the price.

The link in source will show you how to buy a short sale cheaper than an REO.