The fact that a home is a good deal can never cure the ills of being in an undesirable area. Most buyers should consider neighborhood factors like schools, distance from work, distance to shopping or hospitals, general appearance and relative affordability before looking inside various homes for sale. A bad location is simply a loser when it comes to real estate.

If you are out looking for a great deal and you think you should be able to get a home 25% off of its asking price, think again. Most home prices have already been adjusted to today’s market values.

For the most part, the seller and their listing agents have priced the home for today\’s real estate market. That is, the price has already been adjusted to reflect today\’s value. So, if you\’re looking at every property and expecting the seller\’s to knock off another 20-30% of the asking price, the chances are very, very slim that you and them are going to come to terms.

Both the buyer’s agent and the listing agent use the competitive market analysis for different but similar reasons. The buyer’s agent uses the CMA to ascertain the fair market price of a home. They do this for their client, for two reasons. One of the reasons is to make sure the home is not priced out of line, and the other is to help put together an offer to purchase with their client. The competitive market analysis is a guideline. The seller and the buyer ultimately make the decision on the selling price of the subject home.

For the listing agent, it is to place the subject home on the market with a competitive price. A price that will get plenty of buyers in the door to look at the home, and ultimately a price that will attract an offer to purchase, one that a seller has a bit of negotiating room to work with.

A rule of thumb is that a too low first offer usually results in the buyer either losing the home or ultimately paying more than he should for the home. A low ball offer puts the seller on the defensive and contaminates the environment needed to result in a win-win negotiation. An offer that is too high can also send the wrong signal. It may not only cost the buyer money but could cause the seller to be less agreeable with other terms and conditions.

If you want, you can pay full price for the home because you need the seller to help pay a certain amount of closing costs. The home still will need to appraise and prove that it is worth every penny. In this case, the risk lies more with the seller.

As for condition, a home placed on the market as needing tender, loving care, or a fixer upper are usually already priced below the neighborhood market value, helping to reflect the work that needs to be done to get it up to existing neighborhood values.

Make sure to include a relatively quick time frame in which you will get your home inspections done. The things the inspector finds on a home listed at a price acknowledging its condition as one that needs some help are for the buyer to glean a better understanding on what the home needs to bring it up to standard, not for the seller to take a hit on the price and do the repairs. As a note, if the inspection reveals major structural or mechanical areas of concern, this may cause your loan to crash. A lender doesn’t want to put their money in to a heap of junk any more than you do. So, choose your home wisely.

If you\’re in the market for a home, you have to be prepared to actually pay market value for the property if it’s in good condition. Have your Realtor do the math. They can guide you on what is truly a good deal, which ones are overpriced, and which ones to move fast on.

A number of buyers get frustrated with the buying process. They can’t seem to find a deal-or more aptly put-a steal. As a buyer, you may be missing the real deals because you are focusing so hard to make the deal the best deal ever that you lose out. So, your greed is getting in the way of your home buying process.

There are deals out there but with those, you have to be prepared ahead of time. This means getting your home financing in order and working with your Realtor in a timely manner. The good deals are on the market just a day or two, before they get purchased by the home buyer that had all their ducks in a row.

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Author Bio: Charlotte Homes . Or, Charlotte Luxury Homes. And if you like lake living- Lake Norman Homes for Sale here!

Category: Real Estate
Keywords: real estate, realtors, buying homes, finding homes, hiring realtors