purchase: Is there a difference between "Price" and "Value" when purchasing a home?
- 04/26/10 05:07 AM
More than ever before, buyers (and sellers) are confusing the concepts of price and value. When describing a "good deal" in real estate, what exactly are we referring to? When similar homes in a neighborhood have recently sold in a range of $100-110K and a buyer is trying to negotiate the next one for $90K, they are looking at getting a "good deal". However, in simple terms, once they purchase at the lowest "price" the overall "value" of the house goes down: the range in the neighborhood is now $90-110K. As time goes by, the range will go even lower to $90-$100K because the $110K … (3 comments)
More than ever before, buyers (and sellers) are confusing the concepts of price and value. When describing a "good deal" in real estate, what exactly are we referring to?
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