Using internet to research comparable sold homes.

The media portrays the real estate market in a negative light, due to the state of our economy crisis. While some areas in our country have been hard hit (I was recently quoted a figure stating that 90% of Florida's sales are short sales!!!), our market is still fairly stable (60 mile radius of Nashville and of Murfreesboro). We are still seeing homes sell here for full price, some for 3% less than asking price, and homes pending within days of listing. It just really depends upon the price range, neighborhood, town, school district, home type, among many other detailed factors. If a home is not fairly priced however, I would adjust accordingly on negotiations. Please do your research and get your facts from a certified buyers agent/realtor (not the listing agent that you call on the sign or ad) that has access to more exact property values than websites claiming certain estimates that are basically very vague, not taking into account what a true comparable is. A good realtor will know the area market common seller concessions and negotiation terms that are expected. These common concessions change according to season, also. A true comparable is not necessarily the home next door that has sold. I have seen most of the public rely on websites, taking it for gospel. That can be very dangerous if this is what you are using for your ammunition for information prior to negotiation. I actually negotiated my personal home for 9k over the actual appraised value with the help of these websites (not listed on the mls), once I noticed that my internet so called "estimates pulled from nearby comps" showed the numbers in my favor. You see, the internet may just pull a sold home nearby that may not have near the same square footage, building materials, features, yard size, amenities, etc. This is far too vague. Sometimes these sites can be off for the good or bad. Fair warning-just be careful and please get your statistics from a qualified realtor that has actual current, very detailed statistics. All neighborhoods are different. Some median prices may be $120 per s.f. in one neighborhood (maybe with no foreclosure or short sale comps), while a neighborhood down the street of similar homes may be selling for $80 per square foot due to a few more short sales or foreclosures that recently sold. Also, please do not price homes based on what asking prices are alone. Only the sold prices per square foot as well as the ratio of asking to sold prices, are going to be a true indication of market activity in a particular neighborhood. There are still other factors involved, such as what asking prices are bringing pending status, average days on the market, if it is being sold as-is, etc. I have seen some folks make these common mistakes that did not hire a good buyers' agent to inform them of everything they should know before purchasing a particular home at at certain price. It is a great idea to consult with a good realtor that works for your side only, before you begin your house hunt. This can save you lots of time and money, as well as cover you on the what-if's you may not think of that a seasoned professional in the field every day has experienced as unfavorable possibilities.