Before you choose an offer price, establish what you can comfortably afford and compare similar homes. I'll help you keep those decisions separate so a townwide price doesn't become your personal spending target.
The latest market report covers Redlands single-family homes, condos, townhouses and apartments. The typical sale price was $605,000, providing a townwide reference for completed purchases rather than a valuation of any particular home. Homes sold for an average of 99.6% of their asking prices, which does not establish the outcome of every negotiation. Housing supply, measured in months, was 2.64, a reported market measure rather than a timetable for your purchase.
Neither the typical sale price nor the average percentage of asking price that homes sold for determines your budget. I would put affordability first, then consider whether the home's condition and features support the amount you intend to offer. A higher price can leave less flexibility for repairs or other expenses, so weigh that tradeoff before negotiating.
Ask your lender to explain the payment and money needed at closing for the purchase you are considering. Review recent sales of similar homes with me, separating meaningful similarities from differences in size, condition and features. Write down the maximum price you are comfortable offering before submitting an offer, and retain that boundary during discussions.
