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Comparison Shop

The easiest way to know if you are getting a good price is to look at all of the other homes which are available for you to purchase.  You will quickly be able to determine which ones are good values and which are not.  However, it is easy to get confused when you look at numerous homes so here’s a tip.  After previewing each home and before you leave, stop, look around for something memorable (grandfather clock, color drapes, etc.) and make a note of it. This will allow for instant recall. Another tip is to immediately cross off properties which don’t beat your favorite one to date, so you don’t even have to think about it later.

Get a CMA Before Making an Offer

Ask your agent to complete a Competitive Market Analysis (CMA)  When completing a CMA, an agent will typically research the prices of other homes in the neighborhood which have recently sold, review houses which you have preview ed when looking at this one, and then consider what prices were being asked for homes which didn’t sell after six or more months on the market. Using this information, your agent will help you determine the lowest realistic price to ask for the home.  

Look Past Cosmetics

Most buyers want a house that is in move in condition.  If you can see past the worn carpet and need for a new paint job, you can often find a jewel in disguise.  Don’t hesitate to make an aggressive offer as more often than not, you are the first offer the seller has received.  Work with your agent to find that line between reasonable and insulting.