Your offer should start with what you can comfortably afford, then account for the home itself. I'll help you separate those decisions so local prices inform your purchase without setting your budget.
For Chino's single-family homes, condos, townhomes and apartments, the latest market report lists a typical sale price of $715,000. Homes sold for an average of 98.9% of their asking prices. Housing supply, measured in months, was 2.4. These townwide figures describe reported market results rather than a recommended offer for any particular home.
The average percentage of asking price that homes sold for cannot set your personal offer limit. I would weigh recent sales of similar homes against condition and features before discussing a reasonable offer range. A price that fits local sales still needs to leave you comfortable with ownership costs and necessary repairs.
Ask your lender to explain the monthly payment and money needed at closing for the home you're considering. Write down the maximum price you are comfortable offering before negotiations begin. Review similar completed sales with me, then identify which financing and inspection requirements your offer should include.
