Realtors get pricing tool to show homebuyers what they can afford

Homebuyers in Sacramento, California, will have to fork over an extra $40,000 if they want a four-bedroom house instead of settling for three bedrooms. In Allentown, Pennsylvania, that fourth bedroom will cost an extra $45,000 and in Atlanta, Georgia, it will add a whopping $147,000 to the bill. That’s according to a new tool called Price Perfect unveiled by Realtor.com this week. The algorithm draws from the listing prices of homes currently on the market. After configuring the property they want is a third bath really worth $70,000? buyers can view the monthly mortgage payment for a home with those characteristics, along with estimates of property taxes and insurance. Then, they can look at a list of properties for sale that meet their criteria.