Your Homes Value
What’s in a Comparative Market Analysis
This should be your first stop when you are thinking about selling your home. Setting the right price from the start is among the most important steps toward successfully selling your home
One of the key ways to compare your house to others on the market is to look at a comparative market analysis, or “CMA.”
A comparative market analysis (CMA) is a report, created your Home Advantage real estate professional right before your house goes on the market. A CMA gives you information about houses similar to yours (in size, amenities, and location) that are either on the market or have sold within the last 90 to 180 days. It's ideal to have your CMA look back no more than three months when the market is in transition, and no more than six months in a more stable market.
A good CMA can tell you:
* What homes like yours are actually selling for
* How long it’s taking for them to sell (days on the market)
* What their sale prices were in relation to their list prices
* The homes square footage, lot size, condition, upgrades, etc
In a rising market it is especially important to pay attention to the prices of pending, rather than closed, sales, for the basic reason that they’re the most recent. No matter how priceless your remodeled kitchen or finished basement are, the market sets a value—the price a buyer is willing to pay.
And if you have the opportunity, visit some closed sales yourself to see how houses on the market compare to yours in terms of price and other features.
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