home buying tips for buying first home

Home Buying Tips
 
Home buying guide for the first time home buyer
 
 
 
   
 
 
A Comparable Market Analysis (CMA) compares actual selling prices of homes recently sold in an area

"Your" Home, the one you want to make an offer on -- is 134 Harbor Pl, marked with an arrow. 

  • The seller is asking for $155,000

Address

Bedrooms

Baths

Square Ft.

Garage

List Price

Sold Price

DATE

134 Harbor Pl

4

2

1904

Y

$155,000

 N/A

N/A

1

123 Harbor Pl

4

2

1770

N

$148,250

$145,000

3/18/01

2

128 Harbor Pl

4

2

1996

Y

$153,900

$152,000

6/15/01

3

44 Baltic

4

2 1/2

1812

N

$150,000

$149,950

12/5/00

4

12 Sea View

4

2

1772

N

$144,000

$142,250

8/02/01

5

22 Sea View

4

2

1710

N

$153,000

$152,000

11/1/01

Range of Sold Prices:  $142,750 --- $152,000

  • Average - $148,340  

On average, Buyers paid 1% less than Seller's asked

The next step is to drive or walk by each of the homes on the list.  If "your" home is larger or in better condition than most, you can justify paying a higher price, but if  it's smaller than average you might start with a lower offer.

 
   
 
 
 
 
     
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