Newsflash: Do I have a bad agent or is it just this market? (greater Seattle)

We’ve been house hunting in the suburbs 30-40 minutes outside the city of Seattle for 2 months now.We looked at a few houses at first but the very first house we looked at was PERFECT, it literally had everything on our want list, was 3 minutes from where we spend 80% of our time outside the house and was in our budget. My in laws however hated it, basically they’re super snobby and don’t understand that we are not also millionaires. However, they have experience in real estate so going with thier advice (our mistake) we made a low bid, like insulting low. They declined our offer and said that they’ve declined higher offers. So a few days pass, my in laws aren’t in my ear anynore and I call my agent to tell her I want to make another bid, what are the odds we’regoing to find a place as perfect, it’s worth it. So I tell my agent that I think we made a mistake bidding so low. She completely agrees and is so glad I decided to come back to that house. However we found out 5 minutes later that they accepted another offer. For the same that we were prepared to offer. Whyyy on earth didn’t my agent tell me our low bid was insane? The housing market here is crazy.Since that house we’ve fallen in love with a bunch of other houses and lost those to cash, bigger bids, better financing, etc.We just saw a house for 500k that is half unfinished and while we were there 3 other agents showed up to show it. When we were leaving my agent told me we shouldn’t even bother, it’s going to go for a lot more and probably get a bunch of cash offers. I feel so depressed and hopeless. Is this a bad agent or just because the market in Seattle is blowing up so quickly?

Read more at https://www.reddit.com/r/RealEstate/comments/7nau4q/do_i_have_a_bad_agent_or_is_it_just_this_market/?utm_source=ifttt

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