Knowing the towns

Buying in Pine Township? Competition Isn't the Same for Every House

By Aubre J. Stacknick, Global Real Estate Advisor, Piatt Sotheby's International Realty. Originally published on aubrestacknick.com.

Here's something buyers sometimes don't realize:

There isn't one Pine Township housing market.

There are multiple micro-markets operating simultaneously.

A beautifully updated home in a desirable location can behave completely differently from a property requiring significant renovations.

Price point matters.

Condition matters.

Inventory matters.

And timing matters.

Should you automatically offer over asking?

No.

That's where strategy matters.

If I'm representing a buyer, I want to know:

How long has the house been listed?

What's the competition?

Are there other offers?

How does the asking price compare with recent sales?

What repairs or improvements might be necessary?

What terms besides price could matter to the seller?

Winning a house isn't the goal.

Buying the right house under terms you understand is the goal.