If you searched for Moore Park homes for sale, you probably found very few available. This can be very scary when you are looking for a new home. What's happening is that low inventories have created a highly competitive market, with most homes receiving multiple bids, leading to a bidding war. But how do you know if you are overpaying even in such a competitive market? Below are a few things to consider when purchasing your next home.  

• The listing price is high compared to recent comps: 

Since today`s market is so highly competitive a lot of homeowners are just throwing numbers out there to see if they can get what they are asking. This is unlike any “normal” real estate market but is currently the reality. If you see an asking price that seems unusually high for the neighborhood this is likely what has happened and you would be overpaying. 

• Displaying online ratings is much less: 

Relying on online ratings like Zillow and Redfin is not a reliable source, but it can be a useful benchmark when comparing home prices.

• The home has been for sale for a while: 

If you notice a house that has been listed on this current market for a while, it's a big red flag. Most homes sell at soaring prices within a week. If a home is sitting right now, there is a reason. 

• Needs significant repairs: 

The amount of work that the home needs should be reflected in the asking price. If a home is listed for top dollar but needs an extraordinary amount of repairs you are likely overpaying.  

Remember that a lot of these concerns can be easily addressed with your realtor if you are looking for Moorpark homes for sale. We at Hare And Associates are happy to help you navigate this difficult market and ensure you find your dream home without paying too much!