Property Q&A in Madison>Question Details

Kristen Slack, Home Buyer in Stoughton, WI

Why so much per square foot?? This is a higher price per square foot than I have ever come across in 6 months of searching for a Madison area house

Asked by Kristen Slack, Stoughton, WI Tue Apr 16, 2013

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The prices of homes are going up. If you have been waiting 6 months it has cost you to wait. Are you going to buy? each month delay will cost you. Contact one of these fine agents and have them help you find the best deal for you.
0 votes Thank Flag Link Tue Apr 16, 2013
Kristen, This is a great question! Price per square foot is not always a good way to determine appropriate price. So many other factors go into the equation, from location to decor finishes. That being said, the home may well be overpriced. Your Buyer's Agent should be able to do a market analysis for you to compare apples to apples. Good luck!
0 votes Thank Flag Link Tue Apr 16, 2013
I would also add that the size and type of lot and proximity of other homes are items that don't factor into a square foot computation.
0 votes Thank Flag Link Tue Apr 16, 2013
Hello Kristen,
There are many factors which go into pricing a home.
The neighborhood/location is a factor, as is the homes condition. You need to compare homes within the same neighborhood and compare the condition of the homes. If a home has been updated with high-end finishes it will be priced higher than the same size home with no updates, or with lower-end updates.
The best advice I have for you is to find a good Buyer Agent to help you with the process. In most cases, having a Buyer Agent help you with your purchase will not cost you. We do this everyday and can guide you through the process.
If you would like to discuss further, just give me a call, 608-770-1140.

Sincerely, Donna Hermsen ABR (Accredited Buyer's Representative)
0 votes Thank Flag Link Tue Apr 16, 2013
That's what the seller is asking. Your findings are consistent with my research. It may or may not be worth that. You need a buyers agent to do a market analysis for you. If you do your homework on the value, you still need a willing buyer and willing seller to make a deal work. An experienced agent can make that happen. If you'd like help, drop me a line or give me a call.
0 votes Thank Flag Link Tue Apr 16, 2013
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