Real Estate Investing Articles

While preparing an offer to buy a home, you already know the seller asking price. But what is the price you gonna offer and how do you actually come up with that figure?

First, you gaze at recent sales of similar properties to come up with a value range. Then, you examine additional data, such as the state of the home, developments made to the property, current market conditions, and the conditions of the seller. This would help you resolve on a price you think will be fair to pay for the home. Finally, depending on your bargaining style, you regulate your "fair" price and come up with what you desire to put in your offer.

The first step in shaping the price you are eager to offer is to look at the recent sales of similar homes. These are called "comparable sales." Comparable sales are new sales of homes that contrast closely to the one you are appearing to purchase. Specifically, you desire to compare prices of homes that are comparable in square footage, number of bedrooms and bathrooms, garage space, lot size, and other type of construction.

If the home you are paying attention in is part of a tract of homes, then you would most likely find some precise model matches to evaluate against one another.

There are three main sources of information on comparable sales, all of which are simply accessed by a real estate agent. It is somewhat harder for the universal public to entrée this data, and in some cases impossible. Two of the most clear information sources are the public evidence and the Multiple Listing Service.

Debbie Diane is a member of the Distinctive Properties team, an exclusive personalized real estate agency portion the south end of the Salt Lake valley including Draper, Riverton and Sandy. Family owned and operated, Darlene Dipo, Debbie Diane and DeAnna Dipo pooled their 60 years of knowledge to offer their clients flexibility and individualized attention. All three women have achieved the coveted designation of Certified Real Estate Specialists, a title held by only 3% of real estate agents. Offering services including buying, selling, and relocation, Distinctive Properties presents relocation services throughout the United States.