how much is that home worth?

For those of you who are looking for a quick answer to this question, I'm afraid it's not quite so simple.

The real answer is "we won't know unless we try", but is is much more complicated than that.

In general, homes in the Cleveland area will sell for between 92-95% of their final list price. But this is just an average and every situation is unique and depends on several variables, the most important being seller motivation.

I realize that buyers would love to know how much a seller will take for their home up front, but it just doesn't work that way. If it did, there would be no negotiations, and what fun would that be?

The bottom line is that until a seller is staring at a written offer, even they don't know what they'll take. Sure, they usually have an idea, but they rarely ever really know until they get an offer and start to crunch their numbers.

While we don't have a specific answer to the original question posed in this post, we do have some helpful tips in general:

LEARN THE MARKET  - Once you see a lot of homes, you will be able to learn more about value and the nicest home in the price point will stand out.

DON'T HESITATE - If a specific home stands out to you as being heads and shoulders nicer than the rest, other buyers will likely feel the same way. Don't lose out on a great home.

GO AHEAD AND WRITE AN OFFER - Some sellers know their home is overpriced but just don't want to lower it. They may be open and expecting to negotiate, so don't let a price keep you from trying to buy a home that you really love.

STATISTICS ARE ONLY A GUIDE - Sure, market statistics are important to help you figure out how much to offer on a home but don't be afraid to trust your gut instinct as well.

When all is said and done, learning the market is important and having a knowledgeable agent to guide you through the process is critical to your home buying success.