A blog cannot deal with all aspects of a subject and is not intended to replace professional advice. It's purpose is to highlight information and identify areas of possible interest. Anyone wishing to discuss this blog or to make any comments or suggestions about this blog is invited to do so by either posting comments or emailing me directly.
When buying just about anything, most people compare the prices of things to make sure they aren't paying too much. But you may be surprised to find out that it's uncommon for a real estate agent to provide this information to their client when they're buying a home. Sellers almost always get a Comparative Market Analysis when selling their home, but when you mention a Buyer's Market Analysis you often get a puzzled look.
A Buyer's Market Analysis, or BMA, is used to help you - the buyer - determine the market value and price of the potential home that you would like to purchase. I use a BMA because it is just as important, if not more so, to determine the market value of the home and whether the market in that neighbourhood is going up or down. This can only be done by creating a thorough BMA. This will help you determine a reasonable price to offer the seller and how much how much negotiation leverage you have in the process. Are you willing to make one of the biggest purchases of your life without this information? Feel free to contact me if you have any questions about a Buyer's Market Analysis, or if you'd like to schedule an appointment to get a free analysis of your next home purchase.