Unlocking the Door to Your Dream Home: Step-by-Step Guide for a Smart Purchase
Discover key insights for a savvy home search! Monitor the monthly average sale price trends and leverage resources like the Cromford Report. Assess properties below the median price for better investment opportunities. Tailor your buying or renting plans based on your long-term stay goals. Keep your agent informed and request a thorough neighborhood listing analysis. Stay updated with local data and market trends for a successful buying journey.
We will consider the monthly average sale price in your zip code. Let’s take 85257, for example:
In the area with the zip code 85257, you’ll want to shop. If there’s an upward trend, it could be favorable to buy. We rely on the Cromford report.
Next, look at the median price. Anything below it usually performs better for investors, financially healthy buyers, and those in a position to buy or buyers who absolutely need to.
Most would advise buying if you plan to live there for 3-5 years and renting if it’s under 3 years.
Ensure that your agent is aware of this information and has access to the necessary data.
Ask your agent to do these steps:
Look at the neighborhood listings.
Is it above or below the median price? If it’s above, the days on the market will likely be higher. If there’s a downward trend, it may be advisable to hold back.
Here are the listings in the 85257 area, within plus or minus $50k of the median sales price.
This link may be old when you read this, but you’ll get the idea of what an agent can do for you.
Look at pending and sold listings from the past 3 months on the MLS.
Markets vary so widely; you can’t rely solely on national data. You need to look at neighborhoods, zip codes, and cities.
In this market, most sellers are not letting their homes go easily. Sales are constantly happening, but you should work with an agent who has access to the right data. Also, follow my monthly newsletter for updates on the market.
In summary, the emphasis on market analysis, data-driven advice, and responsiveness to client concerns fosters trust and confidence in the agent’s ability to effectively guide clients through the home buying process.
