What is with investors paying way too much for property?

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I used to buy around 20 houses a year and sell about 30.  Lately I can't get any offers accepted and I'm offering as much as 15k over list price.  I haven't had an offer accepted since November and I've probably made around 300 offers since then.  Many of them have been over list price.  

This is not just listed properties, I'm talking about off market stuff too.  

But lets say a home is listed for $30k.  I can barely make the numbers work at $35, so I'll offer $37, but someone else offers $60k.

This sort of thing has been going on since I can remember, especially at auctions, but it has been out of control lately.  

Funny thing too, is that I know I can get the rehab done cheaper than most too.  

I'm not throwing in the towel, but I'm throwing my hands up in the air and shaking my head in disbelief.