Full disclosure: The Tim is employed by Redfin. On Monday I posted the results of a new quarterly survey of home sellers that we’re doing at Redfin. This part in particular stood out to me as I was analyzing the responses: …when asked how they approach pricing their home 32% of sellers indicated that they…
Tag: overvalued
Analyze a “Below-Market” Deal: Conclusion
by Flickr user woodleywonderworks The perpetual motto of real estate salespeople that “it’s a great time to buy” is still a load of nonsense. It’s only a great time to buy when your personal finances, your stage in life, and the right home at the right price all come together at the same time. Granted,…
Analyze a “Below-Market” Deal: Historic Pricing
Our final method for determining whether or not a home is a good deal is to compare the current asking price to the historic sale prices of the same home during pre-bubble years. The simplest method is to find the oldest sale record available for the home and compare the total percentage gain from that…
Analyze a “Below-Market” Deal: Nearby Rents
Unfortunately when you’re looking at single-family homes, it can be difficult to get an accurate read on what people in the neighborhood are currently paying in rent. However, studying asking rents in the rental section of Craigslist is the next best thing, and it is definitely better than nothing. photo by The Tim Do a…
Analyze a “Below-Market” Deal: Comparable Sales
The art of analyzing a home’s “comps”—once the exclusive domain of real estate agents and appraisers—is now open to everyone thanks to sites like Zillow and Redfin that display detailed data on sold homes. The basic process is simple: Make a list of recently sold (within the last 3 months, ideally) homes similar to the…