I feel your pain, believe it or not! All of Huntington Beach, all prices, had only 240 listings the other day. I'm an agent for Chase Bank Short Sales too, and they just have not released as many homes as we would hope for. But this is happening (not happening) will all the banks. Bottom line is we have less than a one month supply of homes available in all of Orange County!
It's great that you can present a strong offer, but you aren't alone. Multiple strong offers are normal now on all desirable homes. Not 5 or 10 offers, usually 25+++, so it's really challenging. Additionally, due to high demand, REO, Short Sales, and all homes are selling for market value. Purchasing a "steal, deal" isn't happening right now in Huntington Beach and surrounding beach cities. If you are working with an agent, you may want to have a face to face discussion to formulate a game plan. I always educate my clients, so they know what's going on, and understand their options.
Best of luck in your search.
Huntington Beach Realty