Asked by Duva, New Haven, CT • Sun Mar 8, 2009
It has one less bedroom and is not in as good condition as mine. The seller has accepted my offer with the Hubbard. How can I know what price to accept for my condo to make sure I'm getting an okay deal based on what I'm paying for the other condo (I'm concerned because the market keeps dropping). Is there a formula to figure out what an extra bedroom and renovations (i.e. to the kitchen and bath) are worth? The one I'm buying is on the first floor, mine is on the second. Advantage of the one I'm buying: it has 3 exposures; mine has two. FYI, the seller and I are both being represented by the same realtor. I trust him but am concerned given market conditions. I thought that buying in the same market as I'm selling, I would come out okay - but I can't find any good comps and it's hard to know what I shoudl be paying and what is the lowest offer I should accept. Thanks for any advice!
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