Determining the price you are willing to offer should be determined by what the market warrants. To know this information, you will need to see the comparables.
That is a list of homes that are currently under contract and the most recent homes that have sold. There is a high and a low range that homes are selling in.
Homes in the lower range tend to be less desirable. They may not have the best location or need some TLC. Homes in the high range are usually move-in ready and have desirable features.
We have found that homes not priced within the selling range will often sit until a seller becomes realistic and reduces the price within the market range. Homes that do sell will usually be sold within 97% of their list price. Often, desirable homes will sell for full price or higher!
This is why it’s important to work with a professional who actively sells homes and is aware of the market sales in the area they work.
Be sure you have set yourself up to receive market updates showing you what homes are active, under contract, and recently sold in the area and price range you are looking at. This is invaluable information as you continue in your home buying journey.
Click here to learn how to sign up for monthly market updates and then click the button below to get started: