No one wants
to sell their home for less than fair market value. In the
same way, failing to sell a home because the price is higher
than the market can be a costly mistake. These situations
are really two sides of the same coin. It is very important
to have an estimate of value that is provided by an
experienced and reliable source.
You may ask
“What is a Comparative Market Analysis?” A
Comparative Market Analysis, or CMA, is a real estate
agent's evaluation, based on local listing and sales data,
to determine the probable sale price of a property in the
current market. Sellers can use a CMA to help determine a
list price. Buyers can use a CMA to help them decide what to
offer on a listing they want to buy. The accuracy of the
analysis will depend in part on the quality of the data and
the skill of the real estate agent who prepares it. The
listings used for comparison should ideally be located in
the neighborhood, and they should be as similar as possible
to the subject property.
To get a complete picture of your local real
estate market, the CMA should include information about
currently available comparable listings, pending sales,
sales that occurred within the last 6 months, as well as
information about listings that did not sell during the
listing period. These are called expired listings.
Providing
a Free Comparative Market Analysis is a valuable service to
both buyers and sellers. Remember the service is FREE.
Realtors chosen to provide these CMA’s provide this service
because they hope that by being of service to you, they will
have a chance to list your home when and if you decide to
sell. The service is Free.
