Find the Best Value

Getting a good value is rightfully on the mind of every buyer, especially in today’s market. However, make sure value is defined as more than just the lowest price. Each buyer should do their due diligence to compare all properties as closely as possible based upon the price, condition, and desirability for your needs. Price itself can be misleading to many buyers, particularly discounts and how consumers relate discounts with being a good deal. A home that you’re able to get a substantial discount on may have simply been priced too high to begin with and isn’t as much of a deal as another like property which no discount could be had on but is overall a lower price. Don’t be tricked by marketing ploys but compare apples to apples at overall final price.

Some of the lowest prices on the market can often be foreclosed properties, also referred to as REO’s, but they aren’t always the best value. Sold “As Is” with frequently no disclosures of any kind represented, these homes demand a complete and thorough inspection to determine their habitability and overall condition. In some cases these properties can have extensive damage inflicted by the previous homeowners and some of the more sensational cases get reported by media outlets. More commonly though it is deferred maintenance and hidden defects that are seen throughout this class of properties. Closely examine each aspect of a foreclosure property and get quotes for any damage or maintenance items that will be needed.

Depending upon your motivation for buying and expected timeline within a property it is the home’s overall appeal and practicality that drives most purchases. Finding a good value though is certainly feasible and should be sought after on each purchase, just make sure your definition of value includes more than the purchase price.

Stephen Woodall
REALTOR, GRI @ Long Realty Company
Stephen has made real estate his full-time career and passion since 2008, primarily specializing in the Foothills & the Northwest Tucson areas of Oro Valley and Marana. He is a multi-million dollar producer, representing both sellers & buyers. Stephen has tremendous experience in new home sales, listing & selling primary residences, listing & selling vacant land, listing & selling luxury homes, investment properties, rentals, and real estate development parcels.

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