A home's value is determined by the following:
- Sale Price History: Pay attention to trends in appreciation or depreciation on the home.
- Home Characteristics: The number of bedrooms and bathrooms, square footage and other characteristics of the home.
- Similar Home Prices: Prices of comparable homes in the neighborhood.
If there are multiple offers on the house be careful of the "I want to win" mentality, I've seen buyers overpay because they get caught up in the heat of the bidding war.
The final price, regardless of what other homes have sold for, is what a ready, willing and able buyer is willing to pay for a property, so, the buyer is really the one who sets the value of the home.
No comments:
Post a Comment