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Unexpected Kitchen Hacks You Need To Know

Picking The Right Price Range For A Home Search

Choosing the correct price range comes as the first step towards finding your ideal home. Additionally, you do not want to spend hours staring at homes that do not fit your prerequisite because you are unwilling to pay for their price. However, it will hurt never to find your home because you used a wrong price range.

Flex Your Price Limits

Property search agents barely consider the ways through which buyers look for homes upon accepting given listings. As a result, mispricing a home makes many sellers to lose buyers because the latter fail to view the listings. For instance, if you set your maximum price for a home at $499,000, you should not search for homes with the $499, 000 as their upper price limit. This way, you will prevent yourself from getting homes priced at $495, 000 as well as those tagged at $ 500, 000.

This puts you at a dilemma, but agents can go for listings beyond your price limits and still get a suitable home for you. Certain agents pride in their connection to repetitive numerals. Hence, they will go for a listing of all fours such as $444, 444. When looking for a home of a minimum price of $450, 000, you will readily accept their offer. However, you will never come up with such a home without adjusting your price range.

The Effect Of Market Temperature

Market conditions influence the prices of homes. When looking for a home in sellers’ markets, you will expect highly priced homes. This is because sellers get several offers. However, if you purchase from buyers’ markets, the sellers will give in to bargaining. As a result, you can go for highly valued homes and get them at your lower price change only when the market condition is favorable.

List Price: Sales Price

It is fair to ask your Property Search Agent for a print out of sales in your desired neighborhood within the previous six months or so. Then, compare the original price tags against the ultimate sales price. The margin between these two figures will help you to estimate the cost of buying a home. This is because you can analyze the homes in the same locality that fall within your price limit. You simply need to use the average ratio of list price to sales price as revealed in the print out. Although this formula is valid during peak sales, you can use it to estimate discounts on your home.

Understanding Seller Motivation

A listing agent will never tell you the reasons for which a seller decides to sell their property. Then, if an agent discloses that kind of information, he will be violating the seller. Often, deeply motivated sellers will allow for bigger discounts. This happens when sellers are:

  • Relocating for professional reasons
  • Divorcing
  • Seeking foreclosures
  • Short sale dealers
  • Financially constrained
  • Buying another home
  • Getting married

Examining Days On Market

It is frequent for Property Agents to go for overpriced listings. These homes normally stay longest in the market. If a home has more than 3 months in the market, it could be a victim of wrong pricing. They also serve as cream candidates for bigger discounts. You simply need to identify them first and launch the competition.