| Compare and Contrast |
Before you rush into an offer you can't refuse,
take several hours to compare the properties you've seen against
market conditions, comparable properties, your priority list
and your listing notes. These are the building blocks of your
buying decision and, later, your offer.
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Market conditions
Which homes on your list are in buyer's markets, seller's markets
or stable markets? Home prices always reflect market dynamics;
for example, a high-demand seller's market usually commands
higher prices.
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Comparable properties
How do the homes that interest you stack up against other homes
in the area? Most real estate offices can prepare a comparative
market analysis (CMA) for you. A CMA examines similar area
homes that have sold in the past six months or are currently
for sale, and compares their prices and other attributes. |
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Priorities
Which homes best match the qualities you want? Rank your priorities
in order of importance so you can weigh the tradeoffs when
you make your decision. |
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Listing notes
Reread the notes you took while visiting each home and look
for qualities that match your priorities. Think hard about
inconsistencies that matter. Some tradeoffs will be unavoidable |