UNDERSTANDING YOUR CMA
Here are the results of your personal Certified Market Analysis. This informmation is to help you understand these figures and how they put together the whole picture.
Like an appraisal, we consider three most important things:
size (square footage and # of bedrooms) and
Unlike an appraisal, we also bring the competing properties into the total picture. There can be a lag of almost three months between the time an offer is accepted and the time is has closed and considered as a comparable sale. During this "lag' time, the market can show some changes although it is pretty stable.
We use the properties that are most similar to your subject property currently on the market and the latest sold and closed home sale prices. However, it is our experience that it is better to use something physically near than something more similar or use an older property that has more similarities. Many years of experience and research goes into preparation of your analysis. There are some factors known as stigmas that can affect a property, school districts, strong decorating styles and other features about a property are all considered.
Our team has most likely seen the interiors of the homes used here, we tour all properties listed through the MLS. Where possible, sales by owners are also considered and adjusted since they tend to be, on an average, 5-10% lower than sales by real estate professionals and auctions can go as much as 65% less than a professionally marketed home sale.
The figures shown at the bottom of your CMA represent a guideline for you to consider for the listing of your property. The closer you can come to reaching the most available buyers, the less time you can expect to be on the market. If you consult your agent regarding any problems areas and how to present your debut with your home in it's best condition and a list price as near as possible to the indicated sale price, we should be able to help you achieve the goals as outlined. Depending on the investment of time and/or you want to make in various upgrades, you could improve your market value. The multiple listing average figures show that the difference between list prices and sales prices are about 10%. Everyone wants to get the most when selling and the least when buying! The best strategy is to be closer and have more offers to choose from.
We negotiate for the best possible price in the shortest amount of time with the least contingencies and the strongest buyer. As always, if you have any further questions of need any more information, please feel free to call your agent.
FREE CMA COUPON!