SOLD HOMES – Knowing The Real Price of Properties #sold #dtla
One of the most common mistakes that consumers make in real estate and other resale transactions is paying too much attention to asking prices and not enough attention to recently sold comparable prices (comps). The listed price for real estate can be all over the place: too high, too low or just right. The only way to know for sure is by taking a look at listings of similar properties nearby that that recently sold and closed escrow. It’s helpful to know what sellers are asking for, but by knowing what buyers really paid of their hard-earned money, we can determine what a comparable property is really worth today, and how much we will really need to fork over of our precious funds. | RECENTLY SOLD
For new build homes, the comps are often not quite as accurate because new homes are generally more expensive than the average surrounding home. The new home is nice, beautiful and new, does not usually need much maintenance for years, and generally comes with a one year warranty. When River House recently sold out, some buyers paid the asking price (usually a mistake), while others offered a bit less and saved thousands of dollars. For example, a River House 2 bedroom 2 bathroom unit sold last week for about asking price but the buyer was able to negotiate more than $10,000 of flooring and other incentives.
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Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.
