Home Buying in Mooresville>Question Details

Realest, Home Buyer in Mooresville, NC

I saw a 2 story 2700 sq ft new home within 28117 priced 265k @ $102/sq ft. Is it truly worth 265k? Zillow's estimate is 232k! What'd be a

Asked by Realest, Mooresville, NC Sun Jul 22, 2012

good deal?

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Answers

5
Good morning, Realest:
New home builders generally do not discount their prices, and even more so in the current market where many communities are selling quickly and many builders have had 3 or 4 price increases already this year. You may want to consider the Trulia Real Estate blog "Buyer Agent Advocate for New Home Construction" (link below) before taking any additional steps. Ultimately, a home is worth what a buyer is willing to pay and what value an appraiser determines/concludes based on other recent sales prices. Nonetheless, there are definite strategies for negotiating with new home builders - some things we can ask for and expect to get and other things we know builders routinely reject. If you have a full time agent with a Masters degree in Planning with Finance and over two decades of experience, working for you, you will likely do better in negotiations. I'd be pleased to provide that service. If you appreciate this answer, please give it a thumbs up, or if this was the most helpful answer, please say thanks with a best answer click.
0 votes Thank Flag Link Tue Jun 4, 2013
Many time Zillows value are off by a good bit, the best advise it to work with a realtor as a buyers agent, so they can do a comparative market analysis on the home you have interest in and see where the values in the neighborhood truly fall. I will be happy to help you with any real estate needs you may have.
Thank you for your time
0 votes Thank Flag Link Mon Jun 3, 2013
Prices have stabilized in the area and with the short supply, prices are increasing in some neighborhoods. Zillow lags the market since the data is based on closed prices. You have received very good responses and the bottom line is for a Realtor to complete a CMA for you.
0 votes Thank Flag Link Sat Aug 11, 2012
Prices depend not only on square footage but acreage, lot, upgrades etc.
Give me a call and I can run the comparables for the home.

Abby Nelson
704-890-1860
abbynelson@bellsouth.net
0 votes Thank Flag Link Fri Aug 10, 2012
Prices depend on location, finishes, condition, neighborhood, etc. The average price per square foot in MLS area 13-1 (Lake Norman North Iredell) ranged between $118-$123 per square foot in the time periods from Feb. 2009-Jan. 2012, based on MLS data compiled from their Statistical Analysis Module in a report dated 2/4/12. A good portion of the 28117 zip code falls within this MLS area, so it is likely that the home could be priced accurately. Zillow's estimates are not usually very reliable as they only pull data. You should contact a REALTOR® to get a professional opinion of the actual value based on factors that raw computer data simply can't tell you. Buyers who work with REALTORS® can be confident that they are getting a fair market value for homes that they are selling or buying. I don't practice general brokerage, as I am a builder sales rep, but I'd be happy to give you a couple of names of good agents that can provide excellent service to you as you look for a new home.
0 votes Thank Flag Link Mon Jul 23, 2012
Thank you, Brian.
Flag Mon Jul 23, 2012
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