You’ve Found Your Home. How Much Should You Pay?

You’ve Found Your Home. How Much Should You Pay??

This is question I am asked often. To help answer, look to your REALTOR. He or she can be your best asset and can provide you with sales data on similar homes including sold, active and expired listings from the local MLS.

Your agent can also provide with with data specific to the current market and make you aware of any important trends that may need to be factored in to your offer. These could include:

-Price of Similar Properties

-Price Trends (current % of list price in comparison to sales price)

-Supply and Demand

-Absorption Rate (#of months supply of inventory. Smaller numbers (shorter time frames) indicate a more competitive market for  buyers

-Average Time on Market (DOM)

-Property Condition

-Seller’s Motivation

-Terms

If you want answers to these questions before you buy, just ask a REALTOR! (call me 🙂

Speak Your Mind

*