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How A CMA Is Useful To Sellers
A Comparative Market Analysis ( CMA) is a very useful tool for sellers. It is an analysis of homes similar to the home you are selling. It gives you an examination of recently sold homes similar to yours so you can list your home at the best market value price. Selecting the best sale price for your home is very important when you want your home to sell quickly.
The CMA report analyzes the selling information of homes similar in size, age and location. If the market is stable a CMA will analyze the past 6 months of the real estate market. In a fluctuation market it will analyze the last 3 months. A seller will obtain very useful information from a CMA report to help gauge the market. Sellers will be able to get a good estimate of how much to expect from their property, by reviewing the sold prices of comparable homes will help you set a listing price.
A CMA will also tell you how long other sellers have had to wait until the sale has closed. Getting an idea of how much time homes have been on the market will help you better prepare, plan and act in responding to your offers. Of course all results will differ due to different factors, such as appearance, condition and how well your home is marketed.
The CMA will also list the difference in sale prices and the list prices of previous sellers. This will tell you how much the seller actually got for their home versus how much they actually listed it for.
We all have high expectations for how much we get for our homes. One-we loved and cared for it all these years. Two- all the repairs, or renovations , Three your put your heart and soul into it and created memories there, Four- you are relocating and need as much as you can to make that relocation comfortable and comparable. We must however follow the market to assure the home will sell. Over pricing your home could cause people to walk away, after all why would they pay that one amount for your home when down the road they can get that bigger home with the larger lot or the upgrading interior for less, or around same price.
Contact me today and let's get your CMA done on your home. We can then sit down and discuss the right price to list your home at for a successful sale.