Picking Price Ranges
Picking the right price range is important before you start buying so you don’t waste your time looking at homes that don’t meet your criteria because they cost more than you can afford. Here are some examples of price ranges.
$250,000 to $299,000 – These don’t include properties listed below $249,999 or above $299,001
$225,000 to $250,000 – these don’t include properties listed below $224,999 or above $250,001
Ask your real estate agent to print out the history of sales in your area for the past six months. Compare the final sales price with the list price and find out how much lower is the sold price than the list price.
Look at the homes in your price range and figure out the average sold price ratio compared to the average list price. For instance, if the average sales price is $215,000 but the list prices were $229,500, the difference is 4.4%. If your maximum price is $200,000, you can consider homes priced at around $212,000 and give a low offer.