A few days ago, I sent you my top 5 resources for determining property value without leaving home.
And while these are important to save time – it should not be a substitute for knowing your market.
Getting away from the computer and getting real – accurate values and knowing exactly what’s happening.
You’ll be surprised that after a little bit of research and work from a couple of weekends- you’ll become familiar with your market, the current trends, and what to expect – and it will become second nature. It’s not hard – it’s just a matter of looking at the numbers.
You’ll learn more about your market by just getting out on a Sunday afternoon, taking a drive and looking at properties, pulling fliers from homes for sale, calling Realtors – just getting familiar with neighborhoods.
If we’re analyzing a deal we’ll want to look at the following:
* the comparable sales that have sold within the last 6 months (preferably 90 days)-
* current homes for sale in close proximity
* the square footage
* the age of the home
* the style (does it match other homes in the neighborhood)
* The Days on Market of the others for sale
I explain it in this new video along with why some Real Estate Agents Lie…