When you guys try to calculate what a sensible home sale price should be, do you base it off the price per square foot and see how that compares to other homes in the area?

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I looked at comps for a while and visited several homes.
It’s tough out there right now. Still very competitive but also I predictable.
Houses in my neighborhood either sell ASAP at or above asking, sometimes all cash and then others just sit forever. If you can handle a fixer upper, that could be a good option.

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None of them are sensible. Median house price to median salary is the worst ratio ever. Renting is a better move from an investment perspective right now in most markets. The only way I’ve found to get a decent price is building. It’s not impossible to fix the inventory issue and if it’s fixed prices will drop, like the car market. So any purchase this year needs to be long term.

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To answer your question, yes ‘per sqft’ is a good metric to get a directional sense for how a property stacks up. Also important are number of bed and bathrooms, fit & finish, and of course location.

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