Home Buying in Houston>Question Details

lomsslomss, Home Buyer in Houston, TX

Is Avalon at Pine Mill over-priced?

Asked by lomsslomss, Houston, TX Thu May 9, 2013

Is Avalon at Pine Mill over-priced?

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Hello,

Currently, new home prices are going up steadily every month. There is a lot of demand for housing. Inventory is very low in some areas, and as a result, home prices are rising.

Regarding Avalon at Pine Mill specifically, if the sale price of all homes in that vicinity are similar, then it is in range with the market conditions.

Each neighborhood and sections within the neighborhood command different prices based on location, square footage, lot size etc..

If you are in the market to buy, consult with your realtor and see if they can give you an idea of the market conditions in that area.

Persis
persis.realtor@gmail.com
713-294-7747
1 vote Thank Flag Link Thu May 9, 2013
We're in a sellers' market ... more people looking to buy than there are homes available. Supply and demand kicks in, so prices tend to be a bit higher.

If the sale price is greater than the sold comparables, the appraisal will show it, and an adjustment would generally be made ... the buyer comes up with more cash, the seller reduces the price, or a combination of both. Only you can determine whether you feel the homes are overpriced ... but "market value" is simple: it's what a qualified buyer is willing to pay for it. Best of luck.

Al Geffon
(713) 213-6350
al@geffon.net
Web Reference: http://www.har.com/algeffon
0 votes Thank Flag Link Thu May 9, 2013
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