The Blindfold Test, or, “Buyer Due Diligence”
Want an old-fashioned way to tell if a given “For Sale” home is a value?
Skip the complicated CMA (“Comparative Market Analysis”), detailed spreadsheets, etc.
Instead, follow this two-step approach:
One. Get up to speed in the area you’re interested in, familiarizing yourself with prevailing prices.
Two. When you tour a given home, don’t — repeat, don’t — look at its list price first.
Instead, guess what it is.
If the actual list price is much lower . . . the house is a deal!