Are you curious what your home is currently worth? Just give us a call and we will provide you with a free Current Market Analysis. Even if you’re not thinking of selling your house, knowing your home’s current value is useful when considering equity loans, collateral value, or other financial planning.
What exactly is a CMA?
The correct selling price of a home is the highest price the market will bear. To assist you in determining the correct asking price, we will provide you with a comprehensive market analysis of comparable properties that have been recently offered for sale in your neighborhood.
This analysis is based strictly on homes that can be considered similar to yours, and will be specially prepared for you. The comprehensive property analysis is divided into four categories:
- Similar properties that are currently listed
- Similar properties that have recently sold
- Similar properties that have sales pending
- Similar properties that failed to sell
By carefully studying the comparable property locations, features, and the terms under which they are offered, we can develop a clear picture of the potential market for your property.
By looking at the properties currently listed, we can see exactly what alternatives a serious buyer has to choose from. We can be certain that we are not under-pricing the property.
By looking at similar properties recently sold, we can see what homeowners have actually received over the last few months. This is the acid test that is used by lending institutions to determine how much they will be willing to lend a buyer for your home.
While we naturally want top market value for the home, we can agree that there’s a point where the price would be too high. By looking at homes that didn’t sell, we can accurately determine that price point and be careful not to get too close to it. By doing our homework diligently, we can get maximum dollars in a reasonably short period of time.
It is important to remember that VALUE is determined by the market (the Buyers). It is your Realtors job to interpret what the market is doing at a specific point in time. Neither the Realtor, nor the Seller determine the value. Value can be adjusted however because of condition, terms, and accessibility, all of which are controlled by the Seller.
Pricing is a strategy and is determined by the Seller with input from your Realtor.
