The difference between VALUE and a DEAL
It’s important to get a good value when you are purchasing a home. Value is different from a deal.
A DEAL is a really good price for a property, even if it’s located on a major street and has other issue. We could really generalize and say that a DEAL is about getting something for less than it’s market value and can be applied to almost any tangible purchase. There is a DEAL on Turkeys at Thanksgiving, there is a DEAL on the loss leader car that you purchase from the Thousand Oaks Auto Center, there might be a DEAL on an REO or a short sale, and there might not but that is good for another blog topic.
In my opinion a VALUE in real estate is something that looks at all the components of VALUE for you, like location that suits you. You will probably get more for your money in Simi Valley vs. Thousand Oaks but is that savings the right VALUE for you. Does the condition of the home suits you? Is it a good VALUE to you to have a home that has granite counter tops or one that needs a bit of work that you can personalize with your choices. Lifestyle is a very important consideration for homebuyers. Does the lifestyle of the home, the neighborhood, the access to shops or the rural setting speak to you and suit YOU.
A VALUE is a place to call home for you and yours all at a price that felt fair and equitable. For owner occupant homeowners, I think that finding a value, is the most important thing.
Recently a Simi Valley home buyer posted a questions on Trulia, he asked if a home was worth the asking price. Of course I think if you are asking a question about a homes worth to an open forum and sharing your concerns about the home, odds probably are, that you knew the answer before you asked the question. There is value in asking questions, so, I’m not faulting the idea of gathering a consensus opinion. In fact, I’m grateful because it reminded me to share the Value vs Deal consideration at Trulia and here. If you want to see the more than 200 questions that I have answered on Trulia, follow this link.
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