Dear First-time Buyer:
Just keep in mind that it is always a case by case basis when you are looking at the disparity between asking price and selling price. Averages can give you a decent guideline to make decisions, but remember that all homes are different. If you see a property that you like, and if you think it is a good deal, rest assured that every other buyer who looks at that property is going to feel the same way and it will sell fast. Often times you may have to pay full price or more on a property if it is priced correctly.
In the end it only matters if you really want to purchase the property. It it is not that important to you, you can look at the averages, but if it is important that you get THAT house you really want, the averages go out the window and you have to go with your gut. Because of this it is advisable that you as a buyer look at as many homes as you can as quickly as you can so you will then acquire the knowledge needed to spot the good deals.
If I can be of further assistance, please let me know. Good luck!
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783