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How To Identify An Over-Priced House In Athens

More often than not sellers think their house is worth than it actually is, more than fair market value. And that’s understandable because they have an emotional attachment to their home and can’t really look at it objectively. As a buyer, though, you don’t want to make a too high offer on an over-priced house. There are, however, some tell-tale signs to keep an eye out for. So here’s how to identify an over-priced house in Athens.

Priced Higher Than Similar, Neighboring Houses

 A dead giveaway in identifying an overpriced house in Athens is when it is priced higher than similar neighboring houses. If the house is comparable to those around it – with nearly equal square footage, similar floor plans, the same number of rooms, and no special features – then it should be priced about the same. So if a house you’re considering is priced thousands more than similar houses just down the street, beware. This is an area of pricing where a comparative market analysis (CMA) is a valuable tool. Your agent can perform a CMA for you to determine the fair market value of the home and how it stacks up price-wise against other homes in the neighborhood. (To find out more, call 706-426-1082.)

Neighboring House(s) Sold Faster

If comparable neighboring homes have already sold (perhaps quickly), this too could be a sign that the one you’re looking at is an over-priced house in Athens. Again, you’ll need to consult your agent and the CMA to ensure that the homes actually are comparable, that there is no significant difference to account for the price and selling-speed difference. As a general rule, similar homes in the same area should have no huge discrepancies in how fast they sell. If you are considering a house where similar neighboring houses are selling right off the bat, then that house is likely over-priced.

Too Long on  the Market With No Offers

Similarly, if the house has been on the market for a long time with no offers, this is a pretty good indication that it is an over-priced house in Athens. In fact, this is probably the best indication that it is over-priced – unless there is something drastically wrong with it. Your agent can find out for you whether there have been any offers. And if you discover that the house has been listed for months on end with no offers – not even low-ball offers – then the seller is probably asking way more than it is worth.

In addition, even if there have been offers, a long time on the market is a bad sign price-wise. It is a top indicator of a house being overpriced. Just keep in mind, though, that high-end homes are typically on the market longer before they sell, not because they are over-priced, but simply because of the higher price.

Condition Not Matching Price

Another way to identify an over-priced house in Athens is to compare the condition and features against the price. Is there a match, or is it out of balance? In order to find out, you’ll need to inspect the house carefully to determine its condition. And if your inspection reveals that the condition doesn’t warrant the price, it is likely over-priced. If you’re not sure, you can lean on your agent’s expertise to make this determination.

Really, though, the best way to identify an over-priced house in Athens is to let your local real estate agent make that call. Because your agent knows the local market inside and out, she will easily be able to spot an overpriced house – and advise you so that you don’t make a too-high offer. Our experienced agents are ready to assist you. To find out more, contact us today at 706-426-1082.

Contact us to avoid buying an over-priced house in Athens! 706-426-1082

Georgui Kassaev

Georgui Kassaev was invited to this country in 1996 during the Atlanta Olympic games. The first place he came to call his home after leaving Russia and performing all over Mexico, was Athens. He became a professional mixed martial arts fighter, then coach, and eventually obtained two black belts in taekwondo and Brazilian jiu-jitsu. He formed a specialty carpentry and construction business which sparked his passion for real estate. He then rediscovered his first passion performing. After all, he has performed in the circus since he was eleven years old in front of thousands of people and then again when he was an adult as a professional fighter. In 2018 he landed his first 3 television roles. While acting, he continued developing his real estate skills, becoming a value-add investor in the Classic City and then getting his real estate license. He has now become a listing specialist in the Greater Athens Area, working with homeowners to protect their interests and get them the right price for their property! However, he never abandoned his construction roots and works with investor clients to help them buy properties based on their numbers with no aversion to making multiple offers. Georgui is fluent in three languages Russian, Spanish, and English. He is proficient in video production and social media marketing.

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