| Perhaps the most intriguing part of the home buying | | | | would have a negative impact on the property prices. |
| exercise is the decision regarding what price to quote | | | | You may seek professional advice of realtors or |
| for your purchase compared to the list price. I wish | | | | estate agents regarding their opinion on the way |
| this question had straight forward answers. You really | | | | property prices are likely to move in the immediate |
| have to do be smart and well researched to find out | | | | future. |
| the right price to quote. Though it is unlikely that the | | | | Find the price at which the deals have been |
| real estate agent would make an offer on your | | | | concluded recently - Perhaps the best indicator of |
| behalf, but it would certainly serve you well to seek | | | | right price to for the property that you intend to buy |
| his expert opinion. There is no substitute for | | | | is to find the price at which a deal has been closed |
| experience and this is particularly relevant for the | | | | for a comparable property in the neighborhood. Make |
| housing industry. | | | | sure that the price is established for a comparable |
| What you need to know before making an offer - It | | | | property and you are comparing apples to apples. |
| is important to know and understand the reason as | | | | Look at historical data - Ask your real estate agent |
| to why the seller is offering a sale of his property. In | | | | to give you actual data of the prices at which |
| case he is caught in urgency and needs to quickly | | | | housing deals have been closed compared to the |
| wind the sale process, you would be better off | | | | listing price in the past six months. This would give |
| making this work to your advantage and quoting a | | | | you a clear picture whether the actual sales have |
| lower price compared to the list price. You would | | | | happened at prices above or below the listing price. |
| have to rely on the listing agent to gather | | | | You would also establish the actual percentages by |
| information behind the reason for the seller to sell. | | | | which the sale price differs compared to the list price. |
| Get to know the market pulse - You should look at | | | | Always have a contingency plan - If you have only |
| the general health of the economy and have sense | | | | selected a single property for bidding, chances are |
| on the direction of the movement of the interest | | | | you would get emotionally attached top the property |
| rates. In case the interest rates in the economy are | | | | and hence bid higher than the right price Ensure you |
| likely to cool off, it is likely that the prices in the real | | | | have a couple of housing options to choose from. |
| estate industry would move upwards. This would be | | | | Study the factors listed above and estimate the right |
| also true in case the economy is growing at a | | | | price for the property rather than being too much |
| reasonable pace. Slowdown or depression generally | | | | concerned on the list price offered. |