Zillow Advice: Home Buying - How can I tell if a home is "over priced"? http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ Zillow Advice | Zillow Real Estate Your agent should be able ... http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ Your agent should be able to give you comps of the neighborhood. Wed, 29 Oct 2014 21:28:00 GMT http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ 2014-10-29T21:28:00Z A competitive market analysis ... http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ <p>A competitive market analysis done by a Realtor will help the seller determine a fair market price - all homes are different -&nbsp;features and locations can often make homes more valuable&nbsp; -&nbsp;&nbsp;It is&nbsp;important to shop and compare -&nbsp; know what is available&nbsp;in your area and&nbsp;if the home appears to be over priced.&nbsp;&nbsp;The Realtor is a great source to provide homes&nbsp;to clients and&nbsp;help the buyer and seller stay current on local market conditions.&nbsp;</p> Wed, 29 Oct 2014 21:15:00 GMT http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ 2014-10-29T21:15:00Z The best way to determine ... http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ <p class="p1">The best way to determine if a home is overpriced is to ask your realtor about it. Make sure he runs a Comparative Market Analysis (CMA) to know the going-rate of the type of house that you're looking for. Home appraisal is also a great idea. <em>[contact information deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]</em></p> Thu, 30 Jan 2014 19:14:00 GMT http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ 2014-01-30T19:14:00Z -&nbsp;I have seen many houses ... http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ -&nbsp;I have seen many houses sell that were overpriced.<br/><br/>Every home sells above value, to everybody else. There is one buyer, and everybody else thought the house was worth less. That's the way it works. (I know, terms are a factor, too.)<br/><br/>Auctions work the same way - you have to outbid everybody else, or you're going home without it.<br/><br/>The real question here is: Since I don't know what homes are worth in the area, how can I tell if I'm paying 'way more than I have to?<br/><br/>This is a good question, and I think that your two options are to rely on the advice of others, or to know the available inventory and determine for yourself where this property ranks among them. Thu, 30 Jan 2014 17:54:00 GMT http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ 2014-01-30T17:54:00Z You can have a realtor research ... http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ You can have a realtor research the property and neighborhood for you and provide you with what else is on the market and what has sold recently.&nbsp; You can also hire an appraiser for a more detailed report. Thu, 30 Jan 2014 12:35:00 GMT http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ 2014-01-30T12:35:00Z I have seen many houses sell ... http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ I have seen many houses sell that were overpriced. That's pretty scary. Appraisal, comps, brokers price opinions all help, but it still happens. It is easier to buy correct in a soft market than one that is rising. Any home right next door identical in size, quality and that just sold is the only real comp. Realtors will tell you where the buyer and seller meet is the real correct value. That is almost true, unless the buyer is from out of the area and unknowledgeable, with a strong emotional bond to that single property.&nbsp; Thu, 30 Jan 2014 07:03:00 GMT http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ 2014-01-30T07:03:00Z Definitely ask your realtor ... http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ Definitely ask your realtor for comparable property sales in the area. Make sure they are getting "like for like" properties. Thu, 30 Jan 2014 00:52:00 GMT http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ 2014-01-30T00:52:00Z One way is to look for a ... http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ One way is to look for a better property at a lower price . . .&nbsp; Thu, 30 Jan 2014 00:40:00 GMT http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ 2014-01-30T00:40:00Z The easy answer is to have ... http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ The easy answer is to have a local Realtor run comps for you. This should be a free service. Alternatively, you can hire an appraiser but that will cost a few hundred dollars. My advice? Contact a Realtor! Wed, 29 Jan 2014 20:36:00 GMT http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ 2014-01-29T20:36:00Z 1. Have it appraised2. Ask ... http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ 1. Have it appraised<br/><br/>2. Ask your Realtor to show you comps<br/><br/>3. ask the listing Realtor to show you the comps<br/><br/>Hint: 2 &amp; 3 are free. 1. costs a few hundred and will be done if a loan is involved to protect the lender (and you to some degree) Wed, 29 Jan 2014 18:29:00 GMT http://www.zillow.com/advice-thread/How-can-I-tell-if-a-home-is-over-priced/526376/ 2014-01-29T18:29:00Z