Hi Smoove1,

You want to look at all the homes in the area. Does the home compare with the price and condition of the other homes? Sometimes listing agents will take an overpriced listing, so in that case the listing price is not a good start for you. If you are intent on doing this without a buyers agent (why don't you want to be represented?), you need to view all the listed homes in the area and do a lot of digging to find what the market is dictating for a price. This market has been tough on sellers--which has made my buyers very happy with the prices.

Sincerely,
Jenny Persha

Dear smoove1,

A seasoned Buyers agent is the best place to start....there are several factors that come into play. Some of which you have mentioned and there is also the factor that the home must be able to appraise out.. meaning that once the offer has been accepted and the mortgage companys' bank sends out their appraiser that home must in "their " opion be worth the value you are asking for. The large amount of foreclosures and shorts sales in some communities can make this a bit more complicated to accomplish.A well versed Buyers agent will know exactly how to help the banks appraiser find true comp's.
Also, when making an offer I always advise my clients to leave room to come up in price need be.. offers are about give and take...

Dear Smoove1,

The most important thing to find out is what the market value is of the home you are considering. If the asking price is an amout that is supported by other homes sold in the area then the home will probably sell for close to asking price. If the home is priced much higher than other comparable homes sold in the area then there is more room for negotiating.
Every Seller has a different motive for selling. Some are much more motivated than others and this definitely plays a role.
I would suggest you sit down with your real estate agent and review homes in the area that you are looking and see what other comparable homes have sold for. This will give you a good indication of where you should end up in price.

If we can be of any assistance. please call. 608-770-1140

Sincerely, Donna & Dan

donnaherms@aol.com

Hi,

The first place you should start with any purchase is finding a buyers agent. A good buyer's agent will be able to assess the home in comparison to recently sold similar properties and give you an educated market value. There are a lot of different variables that go into a market analysis, such as how long the property has been listed, the average days on market of comparable properties that have recently sold and also the current list prices of any other similar homes in that area. If you don't have a buyer's agent, I strongly reccomend you interview a couple and then choose the one you feel will do the best job for you.

Good Luck!

Valerie Wersland
Right On Target Real Estate LLC
843-6351