Phandwerk, Home Buyer in Rio Rancho, NM

In the past few months, what percent of asking price is typically settled upon for the selling price in southeastern Rio Rancho (e.g. 87124 zip code)?

Asked by Phandwerk, Rio Rancho, NM Sun Jul 1, 2012

For example, if someone has listed their house for $200,000, do they typically get 95% of that? More less?

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Answers

4
It is not advised to pursue the list price to sales price alone without considering the other factors that come together to determine value. The main factors that come into consideration (not in any specific order) include but are not limited to: lot size, location, gross livable area, quality of construction, condition, type of sale (REO, short sale, or traditional), garage count, bath count, bedroom count, energy efficient items, cooling type, landscaping, exterior upgrades (patio, balcony, covered patio), fireplace count, appliances.
Once these factors are analyzed and adjusted by the means of a paired sales analysis then the value can be realized. The value then can be compared to the list price and if they are competitively priced then it is suggested to analyze the list price to sales price ratio.
I am glad to provide a list price to sales price ratio but do not want to steer you in the wrong direction if this is an REO or if it is overpriced or if it is under priced.
1 vote Thank Flag Link Mon Jul 2, 2012
Good answers below, but it is hard to tell for sure, as our MLS data on this is not that accurate because it does not account for price reductions, meaning we can see the avg ratio you are looking for, but that only accounts for the sales price vs list price at time of sale, not starting list price. As a seller you need to know that sellers who start too high typically stay on the market longer and even sell for less. I have a program that can take a random sample in an area and prove that happens. As a buyer, you want to compare to other very similar homes and not just consider this ratio, as both Leigh-Jo and Arthur accurately pointed out. I would be happy to send you a very specific market analysis showing what a specific property should sell for, but in reality, the best way for you to know what you think a home is worth is to get out there and see enough homes that you will know right away when you have found the right one at the right price. Whether selling or buying, consider my special offers on my website that will save you thousands of dollars over using any other agent in town. Also, check out my bio and other Q&A here on Trulia, then shoot me a text, email, or call anytime with questions about any homes or to see any in person. Best of luck!
David

David Stafford
360 Ventures Real Estate
505.750.3360
0 votes Thank Flag Link Mon Jul 2, 2012
Hello,

Although narrowed down to SE Rio Rancho, it can really vary depending on the specific neighborhood. Plus, the home itself can be a factor in the percentage of what the home sells for not to mention circumstances.

Are you looking to buy or sell? The reason I ask is, a buyer and seller have different agendas. Depending on which side you are looking to be on, can create some variables for each position.

Leigh-Jo
Syan Real Estate
Call/Text: (505) 730-8181
Web Reference: http://www.Syan.com
0 votes Thank Flag Link Sun Jul 1, 2012
In Rio Rancho, depending upon the property ( condition, price and location), we have been seeing multiple offers, full price offers, 3 to 4 percent under list, on average. We are having an extremely strong sales market that has stayed consistent since early spring. Is there a particular property you are interested in? If so, I would be happy to offer a comparative market analysis, or answer any other questions you may have.
Martha Greenleaf, Associate Broker
Coldwell Banker Legacy
Cell 505-301-1191

Main

office 505-892-1000
0 votes Thank Flag Link Sun Jul 1, 2012
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