Seeking advice for making offers on mls listings

[Khyree Randall]

I was talking to my brother on the phone and would like to get others educated opinions on the matter. I live in Sacramento, and have noticed that people are offering either equal or above asking price even for homes that sometimes need 80-100k in repairs and I can't see how they would even make a profit doing that. Am I doing something wrong when it comes to determining the current value or even the arv of a home? This has been a reoccurring situation over and over again and it’s getting me frustrated and I’m starting to question what exactly am I doing wrong.

Thanks in advance.