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I'm buying a home in Storm Lake, IA - How do I know what a property is worth in the current market?
I'm a first time home buyer in the Storm Lake IA area.
I have looked at a lot of properties in the Storm Lake IA area and found 2 that I really like. But, how much should I offer the Sellers? How do I know what a property is worth in the current Storm Lake homes market, I don't want to over pay but I don't want to offend the Sellers either? Q: As a Buyer, how do I decide on how much to offer on a property? Allie K.A: Allie, Thank you for your question, it is a good one! Our office does research called a - Comparative MarketAnalysis (CMA) for BOTH Sellers and Buyers. A CMA includes similar homes that have sold in the last year. We make adjustments for differences like size, number of bathrooms, and number of bedrooms. The result is a dollar range the home should sell within.We do the research for both the Buyer and Seller in the Storm Lake IA area because it helps to show the seller what prices similar properties have recently sold for and it helps a buyer determine if the home is priced correctly.
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