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How is a market analysis performed?

I am considering making an offer on a home, what are the parameters associated with obtaining a market analysis i.e. distance away from property of interest, how many months to back to look at sales in the area, etc?
  • June 25 2009 - East Point
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Answers (2)

There are several paramaters that are relevant.  In this market, it doesn't make any sense to look back past 6 months.  Market analysis is based on similarities (number of rooms, etc.) and proximity (same neighborhood).  I usually pull nearby sales, pending sales, and active listings.  You should consider other factors too; like is it a foreclosure, a short sale, how much does the current owner owe on their mortgage, etc.  A good real estate agent can save you lots of money by finding out this info, which will determine the offer that you make.
  • June 27 2009
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like property as close as possible.  As close in time as possible 1-6 months.
  • June 25 2009
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