|
| |
European Real Estate Prices To Drop In 2006
Areas of Europe popular with holiday home buyers could see property prices fall by ten per cent or more in the year ahead, according to overseas property specialists Tribune Properties. 2005 saw the first signs of a property slow down, and even the ...
Pennsylvania Real Estate – The Keystone State
Known as the Keystone State, Pennsylvania is a hard working state. Depending on where you live, Pennsylvania real estate can be reasonable or pricey. Pennsylvania Pennsylvania is a state with an incredible amount of history battling with modern ...
What You Should Know Before Buying Home!
It is extremely stressful to spend many years saving money and preparing for buying a home. Looking for new home is fun and exciting. However, there are many unexpected costs and details to be considered before contacting a real estate agent. Home buyers ...
|
|
|
|
| |
As soon as you have found your dream home, let the sellers know they'll be receiving your offer shortly. Then, determine your offer price carefully.
Initially, you’ll need to know about market conditions, so, the first step will include looking at recent sales of similar properties to come up with a price range. When you are making comparison of properties in terms of sales, be specific and compare those houses that are similar in square footage, number of bedrooms and bathrooms, garage space, lot size, and type of construction. These market conditions are external to the property, yet cannot be ignored because it has the ability to greatly influence your offering price.
After knowing the comparable sales that structure the market condition, start to evaluate the property itself and compare it with the other houses in the environment. Property specific considerations means you should examine the house in terms of the feature it offers, namely the number of bedrooms, bathrooms, square feet, lot size, and many more.
To get the exact data regarding the comparison, both in terms of sales and in terms of property features, you should use a Comparative Market Analysis (CMA). The CMA is a tool designed
to compare the subject property with other similar properties in the neighborhood. A well-prepared CMA is critical in helping you to settle on a price you think would be fair to pay for the home.
Consult your real estate agent about CMA. A CMA form usually includes:
-Listing Date
-Listing Price
-Listing Expiration Date
-Sale Price
-Sale Date
-Number of Days on the Market.
The CMA would not only include homes currently for sale or sold but also those houses which were listed but didn't sell.
In performing the assessment, it is recommended that you seek professional help to determine the value of the house. You would then establish an offer price based on the comparables and the assessment. The rest is negotiable from that point on because the final price would depend on your negotiating style!
Good luck in getting your new home, at the price you want.
|
|
|
|
|
|
 |
SF's diverse real estate frenzy expected to lastSan Francisco ChronicleHow much hotter is the San Francisco real estate market getting? Let us count the ways. -- Office buildings: The 33-story tower at 555 Mission St. is in escrow. Reported price: $450 million. That's about $800 per square foot - the highest figure since ...and more » |
|
