Are Condo Sellers asking too much for their properties?
3883 answer(s)
About 4 years ago
It depends on current market conditions and the area you are looking. Whether it's a condo or single family home the best way to know if a property is priced to high is to get a CMA (comparative market analysis) done. Ask a local real estate agent to compare similar properties that have recently sold in the area. This will give you a better idea of whether prices are too high. It will also help to ask an agent if it is a buyer or sellers market. A seller may be willing to negotiate if it's a buyers market.
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DislikeAbout 4 years ago
I think it’s fair to be concerned about market value, whether it be that of a single family home, townhome, or a condo. There should be some indication of value. How do I know if a home is overpriced?
When you work with a realtor, this question can be answered with a comparative market analysis. Your realtor can compare any property of interest to his/her client with other properties of similar size, condition, location that have sold recently. With a properly prepared CMA, you will be equipped to make a fair offer.
Should the property in question be determined overpriced, you can justify your offer with exemplar properties from your CMA. You can also ask the seller to produce the comparable properties that is the basis of his listing price.
This is a question that really can only be answered on a case by case basis. Hire a Realtor.
Good luck!
When you work with a realtor, this question can be answered with a comparative market analysis. Your realtor can compare any property of interest to his/her client with other properties of similar size, condition, location that have sold recently. With a properly prepared CMA, you will be equipped to make a fair offer.
Should the property in question be determined overpriced, you can justify your offer with exemplar properties from your CMA. You can also ask the seller to produce the comparable properties that is the basis of his listing price.
This is a question that really can only be answered on a case by case basis. Hire a Realtor.
Good luck!
About 4 years ago
Well that depends on so many variables? I will say that most times a townhome looks more appealing with a lower HOA. I am liking the high rises with concierge services.
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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