Every buyer has one thing in common: they want a good value. Whether you’re in the market for a modest condominium, a premium building lot, or a luxury mountainside home, you likely fall into that category.
So, how do you determine a fair price for a property that interests you? The first step to understanding the value of a home is to become familiar with sales of similar area properties, typically within the last six months to a year.
One way to look at sales data from Sunday River Real Estate is to check out our Featured Properties and Slopeside Condominium neighborhood pages. Once you find a neighborhood, select the Sold tab at the top to view sales data. Other popular sites, such as Zillow and Realtor.com, provide estimated values based on recent sales. Keep in mind, this is not an exact science, but rather a starting point for determining value.
But the data from any online site still has to be put into context. An experienced real estate agent evaluates the market while taking into account factors that online resources cannot; the condition of a home, special features, or a stunning view. Your agent also considers competing properties on the market, and homes that were on the market and didn’t sell. Assessing the data may seem daunting, but an experienced real estate agent can help you make sense of all of it all.
After all of the technical analyzing and assessing, take some time to listen to your own instincts. Does the price seem fair to you? Is this the property that you can see yourself in? Even if you get a great deal, the price will never seem fair for a property you’re not happy with.
Written by Margie Finley Camden