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Whats my home worth?

Wondering if now is the time to sell and curious to what your home may be worth? I would love to answer those questions for you by giving you a free no obligation CMA of your home! But What exactly is a CMA..? (Comparative Market Analysis)

 

 

What is a Comparative Market Analysis?

A comparative market analysis (CMA) is an evaluation of similar, recently sold homes (called comparables) that are near a home intended to be bought or sold. Comparative market analyses establish the current market value of the home and are prepared by real estate agents. We find houses that have sold with similar square footage, age, subdivisions, bedrooms, etc. to determine a price to list and sell your home at.

A comparative market analysis is not the same as an appraisal, which is performed by a licensed appraiser. The home does not have to be in perfect condition. However, property condition does affect price, so if you plan to do work on the property, let the agent know. At this point the I may recommend improvements to increase your home’s value.

Second, I will research information about comparable properties in the area, usually using a real estate industry resource called the Multiple Listing Service.

This includes:

  • Properties that have sold and closed within the last 12 months
  • Active listings – properties currently for sale
  • Pending sales – listings that have sold but not yet closed
  • Expired listings – properties that did not sell during the listing period

Lastly, I will suggests a probable selling price. Don’t be surprised if a CMA results in a price range rather than a set price, particularly in homes where there are price differences due to property size, age, architectural style or physical condition.

CMA- The best method available to home sellers to learn their home’s current value so they can select the best sale price.