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“Comparative
Market Analysis” |
| Definition
of CMA
(Comparative Market Analysis):
A method of determining the market value
of a property by comparing recent sales
for similar properties.
If you are thinking of selling your home,
let me provide you with a Free No Obligation
Comparable Market Analysis (CMA). By providing
me with some basic information about your
property, I can research what homes like
yours have recently sold for.
Preparing a CMA is a very important step
in selling a home. You want your home
to be priced properly as overpricing a
home will cause it to sit and get little
to no showings. Usually, the longer your
home stays on the market, the harder it
will be to sell. Potential Buyers often
have a fear of homes that have been on
the market for an extended period of time.
They tend to think something must be wrong
with it if it has been on the market for
a very long time. A good buyer’s agent
will also prepare a CMA for their client
to insure a home is not overpriced. If
buyers see that one home is priced higher
than the others, often times they won’t
bother to look at it assuming the seller
will not be willing to negotiate their
terms to compare to similar homes.
A CMA also provides you with a list of
homes in which you will be competing with.
It will provide all the information of
the resale homes on your street and neighborhood.
You will know your competitions List Price,
Days on Market, Square Footage, Lot Size
and Upgrades as well as the compensation
being offered to buyers’ agents.
Once I have completed your CMA, you will
be provided with a list of comparable
homes in your neighborhood in which I
based the price on. Please remember to
give a more accurate CMA, an inspection
of the home is required. Your CMA can
be delivered via e-mail and hardcopy by
the USPS or whichever method you prefer.
Some other factors and common questions
in determining an asking price:
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How
will I determine a value?
Being familiar with the current Real Estate
Market is the biggest factor. Real Estate
is my full time job. I stay current with
local trends and follow what new home builders
are offering as far as prices and incentives
to buyers.
1.
What price has homes in your area sold
for within the past few months?
2. How are currently active listed homes
in your neighborhood priced?
3. How long are homes staying on the
market?
4. Are there any homes currently under
contract and how many days did it take
to
get
a contract?
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| Market
Conditions:
Are home prices in your neighborhood trending
upward or downwards?
What type of Market are we currently
experiencing? :
Is the current market a Buyer’s Market
or Seller’s Market? A Buyer’s Market tends
to mean there are more homes for sale
than Buyers looking. A Seller’s Market
is when inventory is low and more Buyers
are in the market place.
Upgrades:
If your home has desired upgrades and
the comparables do not, it may raise your
home’s value. Examples of upgrades include:
Wood and Tile floors, Granite counter
tops, Pools, Large yard, Stainless Steel
Appliances or 42” Maple or Cherry Cabinets.
Condition of the home:
What is the overall condition of the home?
Will the new owner incur major repair
expenses such as: replacing the a/c, replacement
of the roof, replacing appliances.....,
Is the flooring in good condition? Are
the walls in need of paint? If it’s an
older home, has the kitchen and baths
been updated?
Thank you for your interest in the information
I’ve provided regarding a CMA. Please
keep me in mind when you are ready to
sell or buy a home.
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| Now
We Can Tell -- How You Can Increase Value
Of Your House?
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