Property Q&A in Clarksville>Question Details

Keith Jones, Home Buyer in Clarksville, TN

if the prorety around this house is 15,000 to 20000 less then this house in the area is this house worth the $

Asked by Keith Jones, Clarksville, TN Wed Dec 17, 2008

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Keith, I would suggest having your Realtor prepare a Comparable Market Analysis on the Home you are interested in. It sounds on face value that the home is overpriced, but again, I would suggest a CMA be done on any home that you consider purchasing.

If you are not currently working with a Realtor, Pam and I would love to assist you in your search.

Hope this helps,

Tim and Pam Cash
0 votes Thank Flag Link Wed Dec 17, 2008
Keith, trust your gut. This is an excellent red flag to keep in mind.

In trying to establish market value for my clients, we examine recent sales, similar neighborhood sales, and absorption rates to determine if an odd or surprising price can be justified. In this case, you'll see past sales show a stronger price per square foot, but the size of the homes have a significant variance that you should be cautious about. If the house is a fit for your plans, it is worthwhile to examine the suitable sales data and go from there. It still may be a good value.

Does the home itself make sense for you?
0 votes Thank Flag Link Wed Dec 17, 2008
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