11/10/2023
Say goodbye to the outdated trend of overpriced homes! As an experienced Realtor, I've mastered the art of identifying those inflated prices, ensuring you not only find the perfect home but also at the right price. Let's dive into my expert techniques:
⚡️Snuggle up with a Comparative Market Analysis (CMA):
The CMA is your golden ticket to unveiling a house's true market value. Crafted by a savvy agent like myself, it delves into recent sales of comparable properties nearby, giving you the lowdown on what homes are currently fetching. Remember, it's all about the present!
⚡️Keep an eye on the clock:
A property that's been lounging on the market might be signaling an inflated price. Well-priced gems attract attention and swiftly find new owners. (Just so you know, the median days on the market in October 2023 were a mere 14.)
⚡️Appraisal vs. Listing Price:
You'll be deep into the buying process by the time the appraisal waltzes in, but it's a crucial step in confirming a property's value. If the appraisal waltzes in with a number lower than the listed price, consider it a serious red flag.
⚡️It's what's inside that counts:
Does the home showcase a sleek, modern kitchen, or is it stuck in a time warp from the '90s? Interior and exterior upgrades can make or break a home's value. If things don't quite add up, it's time to start asking the tough questions.
⚡️No tears allowed in pricing negotiations:
Sellers sometimes get sentimental about their homes, leading to what I like to call "emotional pricing" – a mix of data and sentimental value. While compassion is essential, negotiating with your CMA in hand ensures you won't end up paying more than you should.
Remember, having an experienced local agent by your side is your ultimate shield against overspending. And to sweeten the deal, I've got a guide for you: "Is It Worth It? Decoding Property Prices." Want your FREE copy? Just drop a comment or slide into my DMs with "Guide Me!" and I'll send over this insightful 9-page guide.
Source: October 2023 Housing Market Trends Report - Realtors Property Research
For all of your real estate needs contact:
Rebecca Loewer
DRE 02164355