When it comes to our current house hunting situation, "The first cut is the deepest" is definitely ringing true for us. We've now experienced our third offer rejection and, sadly enough, I think I'm getting used to it. I didn't even cry this last time around, as I did the first two. I definitely loved this last house the absolute most, but it's just getting easier to accept the rejection.
To give a little context of what we're dealing with around here in the DFW area: Houses are listed on Friday, shown on the weekends and offers are accepted through Monday. During the day on Tuesday, the seller is shown all offers and accepts one. I'm assuming it's the highest, or the cash offer (which makes the selling process a whole lot faster).
The last home we fell in love with received 24 offers in 48 hours. We included an awesome little cover letter with ours, explaining our deep love for their home and expressing how we'd be honored to care for it and bring our future kids home to it. They didn't see our letter, or I'm sure it would at least have made them think twice. When you're getting that many offers in such a small amount of time, apparently, you're just given a spreadsheet and you choose the best-looking offer.
So, what do we do now? Short of "winning the lottery," I'm not really sure how we're ever going to be competitive against cash offers. Overall, it's just looking and feeling bleak y'all.
We're going to continue on, but I'm building a wall around my emotions and promising not to fall in love with any more houses until I'm signing my name on the dotted line on closing day.