LOCAL REAL ESTATE AGENT IN GA (GEORGIA)

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Evaluating the Seller's Asking Price

This home buying tip will help you evaluate the seller's asking price before making an offer on the home.

Why Is It Called an Asking Price?
The phrase "asking price" is very telling. Sellers will ask for a certain amount. They may get that amount, they may get more, they may get less -- it all depends on the market. So the first thing to understand is that price and terms are always negotiable. If an asking price wasn't negotiable, it would be called a fixed price.

What Makes Up the Asking Price?
A seller (and a seller's agent) will look at market conditions, comparable sales in the area, home improvements and other factors. Based on that information, they'll come up with a certain property selling price.

With that being said, there are some people who take a less analytical approach when setting the price. These people want a profit, and they're willing to ignore reality in hopes of getting it. These types of sellers price their home well above market conditions and comparable sales, in the hope of earning a big payday, usually at the expense of a first time homebuyer.

The lesson here is that some sellers set realistic prices, while others don't. So don't ever think: "Well, gosh, that's the price they've set ... so it must be realistic." Always do your homework. Remember, if the home is priced high by the seller and gets appraised low by the lender, you could have trouble getting approved for the loan.

How Do I Research Comparable Prices?

1. Use the Internet
Over the past couple of years, a number of home-valuation websites have sprung up. These sites will give you the *estimated* value of a particular home, based on local sales data and other factors. Keep in mind, however, that the "freshness" of their data varies greatly. Check a home's value on three different sites, and you'll probably get three different price ranges. The key is to shoot for the averages. Unless you really know the market, You probably should consult with a licensed local realtor.  The realtor will have access to trade tools that will allow them to provide you with the most accurate home value data and analysis.  Most licensed realtors will provide this service to you at no charge.

2. Know Your Market
Are you in a buyer's market, a seller's market, or somewhere in between? You should be able to answer this question without hesitation. If you don't know what kind of market you're in, you won't know your true bargaining power. For example, in a seller's market, you'll probably be less successful trying to negotiate price. But in a buyer's market, you'll have more leverage. Keep up with real estate news and trends in your area. Know your market!

3. Follow Your Agent's Advice
Real estate agents are tapped into the local real estate scene. A good agent will help you identify and evaluate comparable sales in the area. This kind of analysis will help you set a realistic offer amount based on actual current data.

Conclusion
Don't accept the asking price at face value. Verify and validate it. Do some homework to see if it's realistic or out of left field. Keep up with the real estate market in your area. Choose a knowledgeable agent who can help you make sense of all the data. This home buying tip will help you become a smart shopper and a well-informed negotiator.
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ABBEVILLE GEORGIA ACWORTH GEORGIA ADAIRSVILLE GEORGIA ADEL GEORGIA ADRIAN GEORGIA AILEY GEORGIA ALAMO GEORGIA ALBANY GEORGIA ALMA GEORGIA ALPHARETTA GEORGIA
AMBROSE GEORGIA AMERICUS GEORGIA ANDERSONVILLE GEORGIA ARAGON GEORGIA ARCADE GEORGIA ARLINGTON GEORGIA ARNOLDSVILLE GEORGIA ASHBURN GEORGIA ATHENS GEORGIA
ATLANTA GEORGIA ATTAPULGUS GEORGIA AUBURN AUGUSTA AUSTELL AVERA AVONDALE ESTATES BACONTON BAINBRIDGE BALDWIN BALL GROUND BARNESVILLE BAXLEY BELLVILLE BERKELEY
LAKE BLACKSHEAR BLAIRSVILLE BLAKELY BLOOMINGDALE BLUE RIDGE BLYTHE BOSTON BOSTWICK BOWDON BOWMAN BRASWELL BREMEN BROXTON BRUNSWICK BUCHANAN BUENA VISTA BUFORD
BUTLER BYROMVILLE BYRON CAIRO CALHOUN CAMILLA CANON CANTON CARLTON CARNESVILLE CARROLLTON CARTERSVILLE CAVE SPRING CEDARTOWN CENTERVILLE CHAMBLEE CHATSWORTH
CHICKAMAUGA CLARKESVILLE CLARKSTON CLAXTON CLAYTON CLEVELAND CLIMAX COBBTOWN COCHRAN COLBERT COLEMAN COLLEGE PARK COLLINS COLQUITT COLUMBUS COMER COMMERCE
CONYERS COOLIDGE CORDELE CORNELIA COVINGTON CRAWFORD CRAWFORDVILLE CULLODEN CUMMING CUSSETA CUTHBERT DACULA DAHLONEGA DAISY DALLAS DALTON DANIELSVILLE DARIEN
DAVISBORO DAWSON DAWSONVILLE DECATUR DEMOREST DENTON DE SOTO DILLARD DOERUN DONALSONVILLE DORAVILLE DOUGLAS DOUGLASVILLE DUBLIN DUDLEY DULUTH EAST DUBLIN EAST
ELLIJAY EASTMAN EAST POINT EATONTON EDGE HILL EDISON ELBERTON ELLAVILLE ELLIJAY EMERSON ETON EUHARLEE FAIRBURN FAIRMOUNT FARGO FAYETTEVILLE FITZGERALD FLEMINGTON
FLOVILL FOLKSTON FOREST PARK FORSYTH FORT GAINES FORT OGLETHORPE FORT VALLEY FRANKLIN FRANKLIN SPRINGS GAINESVILLE GARDEN CITY GEORGETOWN GIBSON GILLSVILLE GLENNVILLE
 GLENWOOD GORDON GRAHAM GRANTVILLE GRAY GRAYSON GREENSBORO GREENVILLE GRIFFIN GROVETOWN GUMBRANCH GUYTON HAGAN HAHIRA HAMILTON HAMPTON HAPEVILLE HARLEM
HARTWELL HAWKINSVILLE HAZLEHURST HELEN HELENA HEPHZIBAH HILTONIA HINESVILLE HIRAM HOBOKEN HOGANSVILLE HOLLY SPRINGS HOMELAND HOMERVILLE HOSCHTON HULL IDEAL ILA
IRWINTON JACKSON JAKIN JASPER JEFFERSON JEFFERSONVILLE JESUP JOHNS CREEK JONESBORO KENNESAW KINGSLAND KINGSTON LA FAYETTE LAGRANGE LAKE CITY LAKELAND LAKE PARK LAVONIA
LAWRENCEVILLE LEARY LEESBURG LENOX LESLIE LEXINGTON LILBURN LILLY LINCOLNTON LITHONIA LOCUST GROVE LOGANVILLE LOOKOUT MOUNTAIN LOUISVILLE LOVEJOY LUDOWICI LULA
LUMBER CITY LUMPKIN LUTHERSVILLE LYONS MCCAYSVILLE MCDONOUGH MACON MCRAE MADISON MANASSAS MANCHESTER MANSFIELD MARIETTA MARSHALLVILLE MEANSVILLE MEIGS MENLO METTER
MIDVILLE MIDWAY MILLEDGEVILLE MILLEN MILNER MOLENA MONROE MONTEZUMA MONTICELLO MORGAN MORROW MORVEN MOULTRIE MOUNTAIN PARK MOUNT VERNON MOUNT ZION NAHUNTA
NASHVILLE NELSON NEWNAN NEWTON NICHOLLS NICHOLSON NORCROSS NORMAN PARK NORWOOD OAKWOOD OCILLA OCONEE OFFERMAN OGLETHORPE OLIVER OMEGA OXFORD PALMETTO PATTERSON
PAVO PAYNE PEACHTREE CITY PEARSON PELHAM PEMBROKE PENDERGRASS PERRY PINEHURST PINE LAKE PITTS PLAINS PLAINVILLE POOLER PORT WENTWORTH POULAN POWDER SPRINGS QUITMAN
RAY CITY REBECCA REIDSVILLE REMERTON RESACA RICEBORO RICHLAND RICHMOND HILL RINCON RINGGOLD RIVERDALE ROBERTA ROCHELLE ROCKMART ROME ROSSVILLE ROSWELL ROYSTON RUTLEDGE
ST. MARYS SANDERSVILLE SANDY SPRINGS SANTA CLAUS SAVANNAH SCOTLAND SCREVEN SENOIA SHARON SHELLMAN SHILOH SKY VALLEY SMITHVILLE SMYRNA SNELLVILLE SOCIAL CIRCLE SOPERTON
SPARTA SPRINGFIELD STAPLETON STATESBORO STATHAM STOCKBRIDGE STONE MOUNTAIN SUGAR HILL SUMMERVILLE SUNNY SIDE SUWANEE SWAINSBORO SYCAMORE SYLVANIA SYLVESTER TALBOTTON
TALLAPOOSA TEMPLE TENNILLE THOMASTON THOMASVILLE THOMSON TIFTON TOCCOA TRENTON TUNNEL HILL GA TWIN CITY GA TYBEE ISLAND GA TY  GA TY UNADILLA GA UNION CITY GA UNION POINT GA
UVALDA GA VALDOSTA GA VARNELL GA VIDALIA GA VIDETTE GA VIENNA VILLA RICA GA WACO GA WADLEY GA WALESKA GA WALTHOURVILLE GA WARM SPRINGS GA WARNER ROBINS GA
WARRENTON GA WARWICK GA WASHINGTON GA WAYCROSS GA WAYNESBORO GA WEST POINT GA WHIGHAM GA WHITE GA WHITE PLAINS  GA WILLACOOCHEE GA WINDER GA WINTERVILLE GA
WOODBINE GA WOODBURY GA WOODLAND GA WOODSTOCK GA WOODVILLE GA WRENS WRIGHTSVILLE GA YOUNG HARRIS GA ZEBULON
GA


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