Thursday, December 08, 2011
by The City & Mountains Group
Get the Best Price on Your Next House!
One of the most important aspects to buying a home is to ensure that you purchase your new home at a fair price. Since there are certain key steps that you must follow in order to make a sound decision, it pays to have a knowledgeable Realtor on your side that will be able to help obtain the best and most realistic asking price for a property.
Determining Market Comparables
For example, one of the first ways that your agent will discover the price of a home is by researching local market comparables. In most cases, they will be able to bring up a list of properties sold over the last 6 months within a 1 mile radius. Properties should also not be bigger than 20% of the subject size.
Additional features to consider would be the neighborhood each home resides in, structural differences, bedrooms and bathrooms, overall condition and other amenities such as a pool, a/c, or garage. Other factors, such as if a particular home sold for much lower due to foreclosure is something your agent can uncover as well.
Houses That Have Not Sold
Next, many homes could be on the Denver area MLS for 6 months or longer without ever selling. Others that are comparable could have been taken off the market after not getting enough offers or being listed for too high. This is valuable information, because you may be able to get a particular property for a substantial discount or it may not even be worth pursuing.
Neighborhood Reputation
When it comes to buying a house, this is one of the most important reasons to work with a Realtor. Since your agent will have a familiarity with various local market trends and statistics, you will be able to learn what makes a particular neighborhood desirable and also which areas to avoid.
A lot of things can affect a homes value such as the school district, crime levels, or even other properties located nearby (such as those burnt in a fire or properties that were a bank sale). In fact, sometimes these factors can even differ from block to block!
Appraisals & Inspections
After you place an offer on a property, you will have the opportunity to get an appraisal and home inspection as further due diligence. Even with an agent, there are sometimes issues that may arise with a property that could affect the home’s value that you were not even aware of. Some of these problems could include structural issues, plumbing or electrical, termites or insects, mold or even water damage to name a few. Obviously many of these things could impact the price significantly and would either have to be fixed by the seller or renegotiated to get a fair price.
In conclusion, there are a lot of areas to consider when choosing a home and getting a fair price on a property. Since this is one of the biggest purchases you will ever make, it is crucial that you protect your interests and ensure that you are getting the best deal possible.
In order to get started researching your next homes in our Denver area, contact me, Kellie Morrissey. I look forward to serving you as you search for your next future home!
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Please call or email me with any questions!
Best Regards,
Kellie Morrissey, CR5
Named "Five Star Real Estate Agent" by 5280 Magazine, 2010 & 2009
303-877-2813
Courtesy of The City and Mountains Group
Keller Williams Realty
Kellie@CityMTNS.com
Meetings are so boring, don't you think?
and at decent prices. For lunch I tried the Pear, Walnut and Gorgonzola Salad with chicken which was very tasty. A good choice and there was definitely plenty to eat.
Our server was prompt, friendly and attentive throughout the lunch. Overall I would give this place and 8 out of 10. It was good lunch but nothing amazing.
Yesterday I previewed 
Our Real Estate offices are conveniently located just west of Kohls and 
