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Pricing 101

If you’ve found a home that you would like to purchase, but are not sure of how to go about making an offer, you may want to read some of our tips here.

  • Start by getting a feel for the neighborhood price trends by checking the paper and visiting open houses. Taking a brochure from a for sale sign is a discrete way to gather info.
  • Estimate the home’s market value with the help of a Comparative Market Analysis (CMA) report. You can go over these reports with your 24HourBrokers agent.
  • When you are ready to make an offer, give us a call and we will look over the information and offer suggestions, if necessary.

To accurately value a home you will need to do a little research of home prices in the area, but we will be more than happy to offer a hand if needed.

 

Neighborhood Market Trends

Housing DownturnThe real estate market fluctuates from one area to another, it is simply the nature of the housing market. We help you determine key facts about the area you are looking to purchase a home within to help with this process.

  • Availability: A heavy amount of available homes in the area will typically result in easier negotiations with the seller.
  • Average Price: Knowing the average price of homes in an area will give you more to leverage your offer with, as well as determine if the home you are looking for offers more or less than the average.
  • Time on Market: How fast are the homes selling in the neighborhood? How long has the house you are looking at been sitting? These areas may lead to easier negotiations.
  • Community Enhancements : Features within the neighborhood are also important factors of consideration. What school district, public highway, parks, theatres, shopping malls, and other main attractions are within the community?

 

Comparative Market Analysis (CMA)

Three-D graphsA Comparative Market Analysis (CMA) is a survey of recently sold homes similar to the size, style, and neighborhood characteristics of your desired home. These reports offer valuable information when determining a price for your offer.

 

 

Online Value Estimators

Another method of determining the value of a home is to turn to online resources. Keep in mind that the accuracy of online estimates will vary, especially for unique or expensive homes. Use your best judgment when considering advice from these sources.

 

Help from your 24HourBrokers Agent

Your 24HourBrokers agent will help you go over all the information available in order to form an attractive, yet conservative offer.

 

Still Have Questions?

Get the answers to your questions at the 24HourBrokers FAQ section

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