Monterey Hills/How Much Should I Pay For This Condo?

Monterey Hills CA/How Much Should I Pay For This Condo?

If you are in the market to purchase a Monterey Hills condo, you may be asking how much should I pay for this condo?  First, our inventory of properties available for sale in the area(and throughout many communities in Los Angeles County) is very limited so finding a condo will require your patience and commitment.  

In some complexes, there may be NO recently sold properties -- this can be quite common.   These “comps” are the recently(generally three to six months) sold properties which can be used to determine approximate values in a particular condominium complex.  If there are no sales then I search outside of that particular complex to others with similar features, bedroom/bath count, square footage, views, floor level, etc.    I will share this information with you.  Remember I am not an appraiser but I utilize many of the same techniques to assist you with determining value.  Remember floor level, view, condition are very important -- I’ll share my views on the values and then you will determine the price for your offer.   I will ask that you initial the CMA(Comparative Market Analysis) acknowledging that we have discussed the properties on the market for sale, those in escrow as well as recent sales.   

You tell me: But I don’t want to pay too much.  My response -- do you know of anyone who wants to pay more?   No one does.   And the seller doesn’t want to sell too low.  We try to come to a common place where you and the seller agree to all of the terms including price.  

This is only one step in the process towards owning your Monterey Hills condo -- call me and we can schedule an appointment to review the entire process.   My name is Michael Jacobs and I can be reached at 818.516.4393 cell or michaeljacobs@coldwellbanker.com.