Is the asking price in line with prices of similar homes in the area? Your real estate agent can prepare a "Competitive Market Analysis" or CMA, on comparable properties, to help you come up with an educated opinion on the worth of the property. Work with a local knowledgeable agent to provide you up to date market information to assist you with market values to will help you in making a good offer.
Prudential California Realty
We can set up a time to meet at my office and we can talk and I can explain to you how we can give you an accurate value of the neighbor and the property. We can also talk about how we at Century 21 Alliance can guide you smoothly and stress free through buying a home.
CMA, as suggested by Carol, will help you very much.
You can also use Zillow.com for a preliminary research of the neighborhood values, asking to sold ratio and the current value trend.
Best of luck,
CDPE - Certified Distressed Property Expert
Beachfront Realty, Inc.
Thanks John Curci RE/MAX 215-757-2889