VA buyers face tough competition

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Editor's note: Meet Tara-Nicholle Nelson at the upcoming Real Estate Connect conference in San Francisco, which runs from Aug. 5-7, 2009. She will be available to meet with conference attendees from 12:30 p.m. to 1:30 p.m. on Thursday, Aug. 6, in the Palace Hotel's Ralston Room. Click here to send Tara-Nicholle a message. Q: I'm a first-time homebuyer using a Veterans Affairs (VA) loan with 100 percent financing. I'm having problems getting an offer accepted, as I'm competing with cash investors as well as other first-time buyers. Every property we find gets three to four offers on it by the day after it's listed. A: With prices so low, and the $8,000 first-time homebuyer tax credit deadline looming later this year, buyer competition has increased to the point where many homebuyers (first-time and otherwise) are running into multiple offers, over-asking sale prices and getting outbid on their target homes. Mindset Management Reconcile yourself to the fact that you might h...