How Can You Find Out if You’re Overpaying for a Home?

By Monique Walker

Monique Walker has 21 years of experience successfully buying and selling homes in the Phoenix market. She knows the neighborhoods, schools, and the local economy. Monique and her team do all the leg work, keeping you up-to-date with new listings and conditions as they impact the market.

Have you ever wondered if you’re truly getting a good deal when buying a home? Did you know that the listing price of a house doesn’t necessarily reflect its actual value? Whether a home is listed for $10,000 under or over the market price doesn’t automatically mean you’re getting a bargain or overpaying.

Why listing price doesn’t equal value. A listing price is simply an asking price chosen by the seller and agent. They might list low to attract quick offers or set it high in hopes of negotiating down. For instance, if a house is listed at $500,000 but is overpriced by $50,000, getting it for $20,000 under the list price still means you’ve overpaid by $30,000.

The importance of a knowledgeable agent. This is where an experienced real estate agent becomes invaluable. Leaning on your agent helps you understand the actual market value of a home, ensuring you make a wise investment. They have the expertise to assess whether a house is priced correctly and if you’re getting a good deal.

With over 2,000 homes sold in my career, I’m here to guide you every step of the way. As an experienced agent with RE/MAX Excalibur, I’ll ensure your home-buying experience is as exciting as possible without wondering if you’re overpaying. Ready to find your dream home at the right price? Contact me at (602) 413-8195 or monique@moniquesells.com—I’m always happy to assist.