Profile picture for Tizoh

Would you buy this house for 225K?

Its more expensive than 85% of homes in the neighbourhood (average price is 195K) and we may need to re-sell in 5 yrs. What is your take?
  • March 23 2010 - West Des Moines
  • 0Yes

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Answers (1)

Profile picture for real estate mike
O.k. so how are the top tier(15% your math) properties faring? Is the local economy strong? In the surrounding neighborhoods, similar builds, similar age, similar finish out what's the picture? Is the lot size or location a factor in the value? Will there be new construction coming(that you can see) as competition? Back to the basics: what are the comps, can you get it for the low end of comps or even lower? Is it a new or newly remodeled so it won't be outdated in 3-5 years? It is true you set yourself up when you buy real estate. Either to be o.k. in five years, to break even(which isn't horrible in the current climate), or to lose. Your buyers agent knows far more than we do about your local picture and that neighborhood. Best of luck
  • March 23 2010
  • 0Yes

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