Home Buying in Massachusetts>Question Details

Gary.adams, Home Buyer in Somerville, MA

How much overbidding in Boston area?

Asked by Gary.adams, Somerville, MA Tue Sep 24, 2013

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Answers

5
Gary,
Would it be more accurate to state you question as"
"How much underpricing in Boston Area?"
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Underpriciing the the 'magical' tool to create a bidding environment resulting in a sale above list price. The uninformed could believe this to be overbidding.
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Of course we all recognize those who have been shopping for a home. at the top of their price point, for months and have failed in every attempt will interpret this as others foolishly overbidding.
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The reality is a willing seller and able buyer determine the market value.
Not what the buyer can afford.
Not the statistics.
Not even the banks appraisal.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
0 votes Thank Flag Link Tue Oct 1, 2013
Hi Gary,

it does not matter how much the overbidding is. You (homeowner or investor) should always go by your budget. Do your research or have your broker help you determine what the market value may be for a particular property then default to your budget and make your offer-s based on that.
Web Reference: http://wenrealty.com
0 votes Thank Flag Link Tue Oct 1, 2013
All properties are not created equal. Some are not worth over building on. It all depends on your goals and the property values in the neighborhood, the type of property, and other factors. Not all Cambridge neighborhoods are created equal either. Property values range quite a bit. An experienced buyer agent will be best equipped to answer your questions and 2 guide you. Interview several agents before you hire one. You can also Google and read reviews Ahead of time.
0 votes Thank Flag Link Tue Sep 24, 2013
Good answer below. Do you mean offer prices above list price or above what would be considered an appropriate market value? I service Greater Boston, and Middlesex county if you are looking for a great agent. I also handle relocation, investment, and commercial property

thanks,
Kenzo
Web Reference: http://nemoves.com/kenzo
0 votes Thank Flag Link Tue Sep 24, 2013
Depends on the property and location. If you are concerned, don't over bid.
0 votes Thank Flag Link Tue Sep 24, 2013
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