Property pricing for buyers: how to get ahead of the game
Here’s a game you can play, if you’re in the market for a property. A bit like closest to the pin. Estimate what you think a particular property to be auctioned might be worth. Wait for it to sell and see how near, or far off, the mark you are. Play this also without asking selling agents what they’re quoting. Their job, after all, is to get the best price for the vendor.
Of course, for those looking to buy a house or an apartment, working out its value is more akin to blood sport than amusement. Particularly when, as Domain Group senior economist Andrew Wilson says, “there is no true value”. Or as Nelson Alexander agent Arch Staver puts it: “The value is marginally more than what someone else is prepared to pay.” Read more here: http://news.domain.com.au/domain/real-estate-news/property-pricing-for-buyers-how-to-get-ahead-of-the-game-20150216-13d1xa.html