Halley: In addition to checking comparable sales, you should also have your Realtor check pending sales, average days on market for your desired community, and follow the pricing trend. Sales history tells only a partial story.

Make sure that you have looked at the most recent comparable sales list surrounding the home you are considering purchasing. List prices vary across the board, so pay attention to the market value, not the list price. One should use the same concept on a home vs. condo. Except with a home, one must pay more attention the comparable lot locations, sizes, shapes, and usability.