In this market update, we’ll help you make informed buying and selling decisions and will offer you some important guidelines for understanding home prices. We realize that buyers and sellers may feel like they’re simply guessing when it comes to determining a fair price for residential real estate, and sometimes in San Francisco that’s really all we can do – guess. With that in mind, this month in our market report we examine:
-Comparative Market Analysis 101
-Overall Housing Market Analysis
-Current Housing Trends in San Francisco
-How to Make an Offer on an Overpriced Home
-Key Takeaways for Buyers and Sellers
For the typical homeowner, purchasing a home is by far the largest investment they’ll ever make. When a transaction valued in the hundreds of thousands or millions of dollars is at stake, it’s essential that both buyers and sellers have a solid understanding of home values.
The single most important thing a seller can do is set the right price for a home to sell. For a buyer, being able to gauge the fair value of a home means they can spot a listing that’s overpriced—or, better yet, one that’s a great deal. Knowing how to price a home to sell and how to accurately analyze home values requires both experience and knowledge.
While a professional agent can provide the experience, buyers and sellers can (and should!) familiarize themselves with two pricing fundamentals: comparables and market data. Why? Because even when they have guidance from a seasoned agent, buyers and sellers ultimately make the final decisions. And since we’ve been sharing market knowledge with our clients for over 15 years, including real-time sales and new listings, why not keep it going.
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