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Albanyhomebu…, Home Buyer in Albany, NY

What is the list to sale price ratio for the Helderberg neighborhood?

Asked by Albanyhomebuyer, Albany, NY Sun Feb 14, 2010

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Frank Gentile’s answer
Of the 44 SOLD listings in the last 12 months in the neighborhood. The average LIST price of the homes that sold was $189,951. The average price those homes SOLD at was $185,738. from those numbers the answer to your question would be about 98%.

That being said...those are raw number and do not take into account SELLER CONCESSIONS (closing costs rolled into a loan) which could make a real sales price appear higher. For instance my home is listed at $200K, we negotiate an offer to $198K but the buyers are using FHA and rolling in 6% closing costs on top of the purchase amount... the home now looks like it sold for $209,880. Really it sold for $198K.

An experienced real estate pro will be able to help you detremine on a per-case basis a homes true value and what is a realistic expectation when listing it (of buying said home).
Web Reference: http://FrankWithYou.com
0 votes Thank Flag Link Mon Feb 15, 2010
I wouldn't get too hung up on the list to sale price ratios for a specific neighborhood. Agents often site this number and while it provides some information, it is often misleading because agents don't price homes perfectly. In addition, homes with stories such as divorce, jobloss, etc. will skew the results. Therefore, you really need a fairly large sample size and even then this ratio provides limited info. The following link will show you the market trends report for the four county area for 2009. This includes the average list to sale price ratios. Here is the link http://alturl.com/znf2 To see specific neighborhood sales and listings check out http://www.Albanynymarkettrends.com Just type in an address and you will get an automated report. Hope this helps!
0 votes Thank Flag Link Sun Feb 14, 2010
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