Today Jsun Laliberte and I are here to answer this common question: Is the apartment I want to buy priced above, below, or at market value?
This is the No. 1 question that people are worried about when buying an apartment. A lot of people don’t realize that 15% of properties that sold last year sold for over asking price. In those particular cases, those homes were priced below market value.
In Jsun’s experience, you have to treat each property as its own specific case study. You need to take all of the market data into account, as well as experience and a little bit of intuition, to guide you in making the best offer possible without overpaying.
"This is the No. 1 question apartment buyers are worried about."
There are a few tricks of the trade that you should know. We know that when we buy homes in December, they cost a little less than they do in May or June. Everything besides light, location, and square footage can be changed in a home.
Jsun and his team understand all the strategies behind pricing. They can advise you on where these properties are situated so you can create the best strategy for your offer and win the best price.
It's also a good idea to consider potential changes in interest rates. The New York Times recently put out this article about rising interest rates.
If you have any questions, don’t hesitate to reach out to one of us. We look forward to hearing from you soon.