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Fredericksburg Real Estate at Any Price?

Mar 26, 2009

Although modest in size, our market offers a great variety of properties; Texas Hill Country ranches, homes in rural subdivisions, historic homes in the Historic District, traditional ranch-style city homes, homes with Bed & Breakfasts and more. Since Fredericksburg Texas is a small town, the few number of homes in any particular category makes valuation a challenge. And when you do find the Fredericksburg home you want, it is important for your real estate agent to have the resources to help you decide the offering price.

The first and possibly most informative thing to do in order to find your offering price is a Comparative Market Analysis.  A CMA is the compilation of recent sales data for the Fredericksburg homes most similar to the home you would like to buy.  Similarities in square footage; number of bedrooms, bathrooms, garage space, lot size and the type of construction are just a few of the important points for consideration.  The simplest CMA would be for a Fredericksburg home that is in a uniform subdivision.  Of course, the amenities are never exactly the same but by adding and subtracting costs attributed to each one, it is possible to make a good comparison.  More difficult are the subdivisions with custom homes and further, one of the many unique homes.  In the latter case, the long experience of the agent becomes crucial.

Once a general idea of the offering price is established, it is time to assess the condition of the Fredericksburg Texas real estate market.  Supply and demand determine whether it is a ‘buyer’s’ or ‘seller’s’ market and this affects not only the offering price but also the negotiation process. When the market is strongly inclined towards either, one of the parties can be considered to have the ‘upper-hand’.  For example, typically during a ‘buyer’s market’ the buyer can expect a larger percentage drop in price to reach an agreement. Sometimes the buyer will make a ‘low-ball’ offer.  (This must be carefully considered as owners can be sensitive about their home and take the offer as an insult making negotiation more difficult).  In the case of a strong market, a seller may endeavor to extend the negotiations in order to encourage other buyers.

A skilled REALTOR® is a valuable resource in your search for a new home.  As your Fredericksburg Texas real estate agent I promise to help you find this home and negotiate the best price.  Hopefully, you will begin living the Texas Hill Country lifestyle soon!  Contact me anytime at (830) 456-6243 or email (JavaScript must be enabled to view this email address).