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asking price ratio to selling price

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February 20 2011 - Spring Hill
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Unfortunately there is no easy answer.  Some houses sell for well below asking price, while other sellers receive multiple offers and end up selling for more than the listing price.  It all depends on how well the house is priced in relation to current market activity.
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February 20 2011
While most Real Estate agents can run a report showing you the ratio of Sales Price to Listing Price for the last few months, this is only 1 factor in determining the fair market value.  Using this number assumes that the Listing Price was correct, which it may not be.  First you should determine the market value based on recent sales.  The ratio of sales to list will only tell you the direction that the market is going (which right now is down). It also does not take into account when a list price is lowered just before the sale.
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February 20 2011
 
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