Home Buying in Goldsmith>Question Details

Rubin611, Home Buyer in Denver, CO

If the house I am considering in the Goldsmith area is more expensive than the areas general stats, what should consider before purchasing?.

Asked by Rubin611, Denver, CO Thu May 24, 2012

Although the home is on a very nice block, I am concerned that the home is significantly more expensive than other homes in this general area. How can I get an accurate picturre of the homes worth and resale value?

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8
Bob Gordon’s answer
The Boulder/Denver real estate market is experiencing Low Inventory, Excellent Interest Rates and quick movement. We could - could I say - be on the cusp of swinging from a Buyer's market to a Seller's market. As this change occurs, home values will lead - be higher than the previous sale. What was occuring for the past several years was that home prices were lagging - possibly showing at or less than the previous sale. This is a pretty excitime time in real estate. You might want to interivew some buyer's agents to find out about the market and whether the home just seems expensive or is truly a good value. When you purchase, you are entitled to have an agent represent your best interests, so why not find someone now!!
0 votes Thank Flag Link Fri May 25, 2012
BEST ANSWER
Rubin611,

I just responded to your previous email about this home. It seems to be priced correctly according to my initial research. One of the duties of a good Buyer's Agent is to do a Comparative Market Analysis on any home you like before putting in an offer. Remember, he is a professional and looking out for your best interest. Trust the local professional, not Trulia or other national online sites who are not familiar with the area and particular builder and subdivision where you want to purchase. Good success on your purchase.

Robert McGuire ASR
Broker/Consultant
Your Castle Real Estate
1776 S. Jackson St. #412
Denver CO 80210
Direct – 303-669-1246
http://theRobertMcGuire.com
0 votes Thank Flag Link Thu May 24, 2012
hire an apraiser, and possible property inspector
0 votes Thank Flag Link Tue Mar 1, 2016
Are you working with a buyers agent? If so, have your agent pull comps and run a comparative market analysis to see if your intuition is correct. You also run into the the issue with low housing inventory. Simple supply and demand is driving prices up a rapid rate so be prepared to pay a little more in these types of markets.
0 votes Thank Flag Link Mon Oct 6, 2014
hire an apraiser cost probably 75 to 100.00 dollars to access value
0 votes Thank Flag Link Sat Oct 4, 2014
Buying the most expensive home on the block generally does not fare as well as the least expensive home in an expensive neighborhood. The homes in the immediate area impact a home value to a great degree than homes a mile away or even on the other side of a road.

You need a market analysis. Generally, a local agent can do for you. (Local is better.)

Best regards,
Suz
0 votes Thank Flag Link Fri May 25, 2012
Rubin,

Your buyer's broker should be able to give you an accurate picture of what this home is worth. That is part of why you have want to have someone representing you. Robert said it in his response that the house seems to be priced well and you should trust your broker, not Trulia or Zillow. These sites are not as up to date with current information and they do not know the condition of any of the sold homes they use to as their compared properties. Your broker will be able to come up with an accurate value much better.

The listing broker is working for the seller and looking out for their best interest. Although the listing broker can do the transaction for you if you want to buy this house, but you really should have a broker on your side that can help you, give you advise and make the transaction go smoothly.

Buying a home is a big investment.! I wish you luck and if you would like to ask me any other questions, please feel free to call me. I would be happy to help you. My cell number is 303 906 9000.

Good Luck,
Wendy Glazer

Kentwood Company
bdglaz@aol.com
http://www.wendyglazer.com
0 votes Thank Flag Link Fri May 25, 2012
Hi, A very importantant factor to consider are resale value and how long you will be in the home. Questions you should research are, is it the nicest home on the block? Are other following that homes lead? Is the seller just trying to recoup updates that they recently did? Also consider the underlying economy of the area.

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
William Raveis Legends Realty Group
914.406.9023
0 votes Thank Flag Link Thu May 24, 2012
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