One of the best ways to determine if a "deal" is a deal, is by looking at the Price Per Square Foot numbers.  Now, obviously other factors contribute to determining if a deal is a deal, but this is one of the best ways, that I know of, to have a great understanding if the seller is asking too much for their property.

Unfortunately, most Realtors are egotistical fools, meaning just because the CMA (Comparative Market Analysis) they computed says someone property is worth X, they get highly offended when you offer Y, regardless if you can justify your offer.  Most Realtors don't understand how to truly value a property, that's why they are in sales and not an appraiser.

I recently took the City of Cape Coral, FL. and went GEO Area by GEO Area to determine what the Average PSF for SOLD properties is for Foreclosures on Waterfront, Foreclosures Off-Water, Short Sales on Waterfront, Short Sales Off-Water and finally, Non-Distressed aka Traditional Sales on Waterfront and Traditional Sales Off-Water, and found some interesting trends.

This is highly valuable information, it provides a foundation for me and my clients when looking to find a "deal" in the City of Cape Coral, FL.  Now, I won't go into great detail here, but there are deals out there folks!  I just ran a quick search for Active Listings in one paricular GEO Area and it came back with 15 properties listed from $0 to $90/PSF.  In this particular GEO Area, the average Sold Property Off Waterfront was $90/PSF since November 1st, 2010.

So what happens next you may ask, viewing/inspecting these properties and submitting offers, you're not making money unless you're making offers.

P.S.:  GEO Areas means Geographical Areas.