Over the past six months all pretense of knowing how to price a home for sale has just flown out the window. If an agent is being honest they’d tell you this. The real estate market has gone wacko, and with lots of extraneous input (financial bailout anyone?), who knows what’s happening anymore.
So how is this a problem for home buyers? Well, it makes it harder to spot a good deal. Comps can be all out of sync. Even something priced really well can go unrecognized because of the large inventory. Comparing price to assessment doesn’t shed much light.
The real answer if you see something that fits most of the bill (because amazingly enough, no house is perfect, and even buyers in the million dollar plus range cannot find the perfect house), don’t be afraid to make an offer. Justify your offer with stats, or not, and provide some nice language about how you love the house, know your own bottom line, and see where it goes.
PHOTOS COURTESY OF FLICKR
