is this house overpriced? estimate is around 350K

Asked by Luniew, North Attleboro, MA Fri Feb 8, 2013

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Louis Wolfs…, Agent, Needham, MA
Sat Feb 9, 2013

If you have to ask on a forum if the home is overpriced you should not be buying it or any home.

The proper way for you to determine if a property is fairly priced is to know the market. How do you get to know the market? Only 2 ways and you need to use both. 1) View as many homes in the area that are of similar value as to what you are looking at. 2) Have a good buyers agent that can also direct and inform you based on their experience in the market.

Tools like Zillow and Trulia can help provide broad information on homes and historic information and trends, but they do not know how it actually compares to the properties that are competing

A home is only overpriced if a) you don't feel it is worth it to you. b) no one else feels its worth it to them c) the appraisal comes in lower.

Get yourself a buyers agent, and or view as many homes as you can.

1 vote
Heath Coker, Agent, Falmouth, MA
Thu Feb 28, 2013
Hi Luniew,

If using the estimators available on the internet to price real estate was useful, buyers and sellers wouldn't need professionals who list and sell property every day.
Pricing is not as simple as Internet website developers would have you believe.

I would go look at the house, get to know the neighborhood, see the extras, go see other property, consult a pro for homes you probably aren't aware of for comparrison, and make your own -educated- decision.

Of course choosing a local real estate pro can help you save a lot of time.
(Not me, I'm on the Cape, but I can help you choose a local pro when you are ready.)

(Please note: when you choose an answer as a Best Answer, or at least give a thumbs up, it helps those who answer questions here.)
0 votes
Territory.c…, Agent, MA,
Mon Feb 11, 2013
Definitely one of the more expensive homes on the street but then again it is new(er), built in 2002, which increases the value. Seems this new price (it started at $449,000) of $429,000 is getting close to current market value. To find out why we think so feel free to give us a call any time and we will provide you with a property valuation.
Massachusetts Premier Buyer Brokerage
617 848 5407 x701
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0 votes
Christine Mo…, Agent, Wilbraham, MA
Sat Feb 9, 2013
Your realtor should be able to provide a CMA for the home and advise you what a fair market value for the home would be. No one can judge a home without seeing the inside.
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