Posted by Ronald * Starr(in No CA) on August 13, 2003 at 18:56:45:
Time studying the market is the answer. Bill Green in “Think Like a Tycoon” recommended looking at 100 houses for sale then following up to see what they sold for. That works.
When I was starting out, I’d spend one or one and a half hours after supper reading through the listing in the multiple listing book. Those probably don’t exist anymore. Studying listings at www.realtor.com or on the MLS is a replacement for that action.
Study the sales. Read about the sales prices in the newspaper, if they appear there. Here in No CA the San Fran Chronicle Sunday Real Estate section lists sales prices of houses in many surrounding counties, including where I live, Oakland. I read it regularly.
Also, pull up comps for houses that intrigue you.
After a few months you will know the market values. Then you can start making your offers and buy.
Good Investing******Ron Starr***************