Utilizing Market Statistics

By
Mortgage and Lending with HomeStar Financial Corporation

Want to make an educated decision?  Great article on using market statistics to your advantage, whether buying or selling...

Unfortunately many buyers and sellers do not take the time to review market statistics when purchasing and selling Real Estate. Often times this is because the real estate agent does not provide them with this crucial information. I believe that taking the time to educate clients on the current market conditions is a must and is crucial to helping them get the most out of their transaction.

Why Statistical Information is Important

Market statistics tell you a lot. When buying or selling a home you should always ask yourself the following questions. All of which can be answered by referring to the local market statistics.

Buyers should always consider the following questions before making an offer on a property:

How much should I offer on the home? Is the home over priced when compared other homes in the area? Will there be instant equity in the home? Will I be okay if the market shifts down the road? What is the community like? Are the values in this area expected to rise or fall within the next few years?

Sellers should ask themselves the following when preparing to list their home for sale:

How motivated am I to sell this home? What prices have homes sold for in my area recently? Am I prepared to offer concessions to a buyer? What price should I list my home for in order to have it sold by my deadline? How can I get the most money out of my home and still sell it quickly?

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Jared Wangsgard - Ensuring Smooth Moves in and out of Salt Lake City

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