Bidding on Houses (January 4, 2012)

We are struggling to find a place to live. The housing market is extremely tight here in Perth, especially for rental houses. We cannot believe how expensive it is. There is no such thing as monthly rent here in Perth...they charge by the week. Anything with 4+ bedrooms that's not in a very bad part of town is at least $700/week. If you find a place that you like, you most likely have to wait for the open house to see it. The open houses are crazy! You show up, wait in the driveway with about 50 other people and then the real estate agent rolls up, gives a 2 minute speech about the place and unlocks the door while people pour into the house...you are fighting your way down hallways, into bedrooms, and don't even think about lingering in a bathroom to check it out. Bids are due the next day by noon. Typically there will be 8-10 bidders and unless the house is a dump, it will go for much more than the asking price. 2 weeks ago we bid on a house after fighting our way through the open house. It was listed for $800/week and we bid $850/week because we really liked the place. We were told that we were not even close to winning the bid...crazy!