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Asked by Tom Mcguire, Calgary,AB Tue Dec 4, 2007

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Mike Kelly A…, Agent, Santa Rosa, CA
Tue Dec 4, 2007
Tom, Huh? So you're using current comparable sales to figure an offering price and THEN deducting 10-14%? Then why even use a comparable sale? What price do you wish to offer? Offer that price. Don't get hung up on any particular house just start writing offers 14% below the last comparable and see what happens. But if you DO happen to fall in love with a HOME for all the right reasons, great schools, neighborhood, fits your needs, great oak tree in the backyard to have picnics with the kids, super bay window for the Xmas Tree, prestigeous area, all the children seem real good lookin' and above average, then throw away your equation and buy the HOME for the reason we all buy HOMES.
But if you're an investor, start writing!! You're not too far off!
1 vote
Gail Hiebert, , KCMO
Tue Dec 4, 2007
Hello Tom. Why is this an important question for you? The area comps on the current market of your area, in this case, Calgary, are available through any real estate professional in your area. You can ask to search for a window of 3 months, 2 months, 1 month, and you're right, the system default is set at 6 months. But if you don't like the six months view, go for the one month window. What do you propose to do with this information? If you check the variances between the 6 month window (for the area of interest) and the 2 month window for the same area, you will find a small difference, up or down. This difference, unless you're in a particularly severe recession or inflation will reflect a small percentage increase or decrease, between 4-7%. Is that significant enough to impact your buying decision? Perhaps. But the best source for the demographics in your area, unless you're willing to pay a lot of money for up-to-date timely data from a research firm, is still your local realty office. Hope this helps.
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