Newsflash: [MA] Boston, first time home buyer putting in offer today – 35k over asking price of $479,900

We finally found a property that we like and is priced in our budget, despite being much smaller than we originally wanted. It’s only 2 bedrooms and 1 bathroom.There were about 100 people at the open houses over the weekend, and the listing agent told my realtor she is expecting about 15-20 offers. Per the recommendation of our realtor we are going to offer $515,000 on the house. I’m still not 100% confident we’ll get it, which will be disappointing.Such is the state of the Boston real estate market.Would love to hear from anyone who is in a similar situation and how the process went. How much did you offer over asking in a multi-bid situation? How much higher did you go after the first round and into the “best and final” round? Are we crazy for feeding into this hype?

Read more at http://www.reddit.com/r/RealEstate/comments/48apyo/ma_boston_first_time_home_buyer_putting_in_offer/

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