Quick help....

house for sale in nice area..completely redone except for basement...QUALITY kitchen (and i mean granite & cherrywood) asking X amount of dollars...
put bid in for asking price...Real estate agent says that others bid that and then a little higher.
The house is done so nice that I'm thinking to go a little higher and the asking price was a little low....

what should i do? we already bid $1,000 above asking...do you think $5,000 above asking is okay?

anyone have any suggestions...or experiences

That is a really hard question to answer without seeing the house. I think you have to bid based upon whether you want the house or not regardless of what others are paying. In other words, if this is THE house, bid high enough so you get it. However, my dad who is in real estate refused to allow us to get into a bidding war. He said it is the worse thing you can do. When the seller wanted us to, my dad told us to walk away. Sure enough, the next day, the seller called telling us he was still giving us the house.

But $1000 to $5000 is nothing when it comes to houses! You don't want to lose the house of your dreams for so little.

Keep in mind that every $5000.00 increase is only $30.00 per month in your morgage!!! Also, when it came to our house - we knew because you feel it - the same way you knew your wedding dress was your wedding dress!!!

The man who sold us the house got higher bids then us but decided to 'give' us the house because he said that we reminded him of his wife and himself when they started out!!! So you never know!!! Have fun with it but don't become obsessed!!