Home Buying in 78758>Question Details

S.t., Home Buyer in 77320

In Tx how do I determine if an asking price is fair on remodeled 68 home what all goes into that figure and is there a general guideline that is used?

Asked by S.t., 77320 Wed Sep 16, 2009

Help the community by answering this question:


A real estate professional has spent years gathering information on neighborhood trends, prices. Etc. They will also be aware of private sales. To be sure you are getting the best value you need to hire a full time, experienced agent who is familiar with the neighborhood.
Agents are paid for their insight, opinions and market knowledge. It's not information given away for free, but a good agent will work hard for their client.
Best of luck.
1 vote Thank Flag Link Wed Sep 16, 2009
Hi S.t.-
You didn't state whether this is in an area where there are numerous remodels being offered. That will make a big difference for you and what you should offer. The only general guideline we follow is what the market has recently dictated. SOLD data of similar homes tell us what is a fair offer price. The reason that is important is it tells us what other buyers have been willing to pay in that particular area, or the max a seller has been able to get for homes in a particular area.

If there are a number of remodeled homes, it makes it much easier. It becomes a sort of "market of its own" with a notable $/SqFt. If there are not, then it gets a little trickier.

If you are unsure, interview a couple of agents to find the expertise you are seeking. You need a Realtor that is familar with remodeling and home valuation in the neighborhood you are looking in.

I wish you all the best!
1 vote Thank Flag Link Wed Sep 16, 2009
Contact a local agent and request CMA and you will learn if the house is priced right and what to offer.

0 votes Thank Flag Link Wed Jan 18, 2012
You are working from the wrong side of the question. They can ask whatever they want. Wanting and getting are two different thngs.
So let's look at your side. Has it been brought up to a standard that you value. Does more work need to be done? Was the work done of a quality that you appreciate. Are you will to pay X monthly for the house.
A good maxium to follow is: It is easier to get in than to get out. So when you are ready to sell, what will be the condition of the house. These are all decision paths your Realtor should help you with.

In general, I find older homes, well taken care of or updated through the years represent good values. They are also, as a general rule, in closer in better locations. On the down side, lifestyles change over time and has house may have a dated layout. As an example, older ranch houses have 8 ft. ceilings and most homes today have a lot higher and more detailed and trimed ceilings, a hard thing to change.
0 votes Thank Flag Link Wed Jan 18, 2012
Dunes-oddly enough, yes!

that is all I wanted to say however it was too short.
0 votes Thank Flag Link Thu Sep 17, 2009
You got a couple of good answers so I'm gonna give them both Thumbs up just cause I can..

Angela would your advice also work for those of us who reside in the United States?
0 votes Thank Flag Link Wed Sep 16, 2009
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