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Home Buying in 01950 : Real Estate Advice

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Tue Nov 17, 2009
Dolores Person answered:
What type of property are you evaluating? Price per square foot is most valuable when comparing like properties. In other words using just the price per square foot of all condos or all single family homes is very general and can be misleading. If you’re looking at a 3500 square foot colonial built two years ago, the best way to get an accurate sense of value per square foot would be to search for homes 1-5 years old between with 3000 and 4000 square feet of living space. In this case the recent price per square foot (last 12 months) is 269.20 per square foot. In a specific neighborhood, such as Cherry Hill, you wouldn’t use the same price per square foot of an antique in the South End of town. You know the saying garbage in garbage out- Be careful the data you use is specific to the property type and location you’re evaluating. ... more
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