What is a CMA?

 

If you have ever sold anything before, you know that it is first necessary to find out how much that item is worth. For example, if you're selling a car, it's easy to gather the information you need to set a price from newspapers, the Blue Book, or online used car sales sites. However, if you want to sell your home it's not so easy. The value of your home is much more difficult. Online home valuation sites are fun to play with, but they are based on past sales, not current market factors. Newspaper listings give you some information, but houses are usually so different that it's hard to compare. 

 

The best method available to home sellers to learn their home's current value is a CMA, or Comparative Market Analysis. CMA is a term used to describe an in-depth analysis of a home's worth in today's market. 

 

The best part about our CMA is that it's absolutely free! 

 

When should I ask for a CMA? 

You should have Kathryn Taylor and her real estate team complete a CMA before you list your home for sale. If you don't get a CMA prior to listing your home, you may try to sell it for the wrong price. Setting the price too low means you'll get less money for your home; setting it too high means it might not sell at all. If you are considering selling your home in the near future, contact Kathryn Taylor and her real estate team to conduct a CMA today. 

 

How is a CMA prepared? 

First, a Kathryn Taylor Real Estate Team agent will walk through your home. 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 Kathy know. At this point we may also recommend improvements to increase your home's value. 

 

Second, we will research information about comparable homes in the area, comparing properties with similiar square footage, age, style, and condition. This includes:

 

• Properties that have sold/closed within the last 6-12 months

• Active listings - properties currently for sale

• Pending sales - listings that have a contract but not yet closed

• Expired listings - properties that did not sell during the listing period

 

Lastly, we will suggest a probable selling price range.

 

A CMA is not an appraisal.

A real estate appraisal is a comprehensive evaluation performed by an independent professional appraiser. The CMA is prepared by an experienced agent with extensive knowledge of the local market and will typically be in line with your home's appraised value.

 

When selling your car, an incorrect price might cost you a few hundred dollars. If you set the wrong price for your home, you could lose tens of thousands of dollars. Do your homework and ask Kathryn Taylor and her real estate team for a Comparative Market Analysis now!