A homeowner's primary objective when selling their home is to get the most amount of money, in the least amount of time. The benefits of pricing your home appropriately mean a quicker sale, more prospects, and higher offers!
A Competitive Market Analysis (CMA) provides an up-to-the-minute report of home prices in your neighborhood at a particular time. The real estate market is constantly changing with supply and demand, changing interest rates, and the economy. CMA's supply valuable information on the price the market is willing to pay for a property. The market establishes value, not the real estate professional.
The CMA will help guide the seller in determining a listing price or a buyer in determining an offer price based on the market. A CMA can also be used to help you know your property's tax value -- be sure tax assessments are not increasing faster than the market value! Note: A CMA is not the same as an appraisal.
Guidelines for developing a CMA, use properties:
● similar condition to the subject property and compare to at least 3 properties
● in same subdivision/area as subject property
● sold within the last 6 months
● sold properties only, don't use active or expired listings
● new loan sales (i.e., transactions closed on Conventional, FHA, or VA loans...avoid using assumption, cash, or equity sales)
● within 5 years of age of subject property
● within 150 square feet of subject property
● similar amenities as subject property
There are many factors that can affect the market price of a home. (How much will the market bear?)
● Is the property on a golf course lot or waterfront lot? Does it back up to a busy street, near a power line, or water tower?
● Is the property in a superior school district?
● Does the property have a pool? A gunite pool is the only type of pool that adds value and only up to 5 years of age. A pool loses about 50% of its value in the first year and approximately 10% each following year.
● Is the subject property in need of repairs? If so, estimate the cost of the repairs.
A recent CMA, combined with knowledge of your home's condition relative to others in your neighborhood, will give you an accurate reading of the market value of your house.
How much is your home worth? Please call Teri Taylor with Keller Williams - Elite at 972-381-6066 for a free consultation.
If you're in the real estate market, let Teri Taylor help you find what you're looking for. Whether you're looking for log homes, modular homes, house plans, books on homes, or a local home depot. Teri Taylor can find you homes for sale, manufactured homes, a white house, or a blue house. She is an expert with the mls and often can work from home. Whether you need homes for sale, manufactured homes, home plans, houses, homes or a house for sale by owner, or a mortgage calculator, she can help. She will show you houses, homes, houses for sale and can direct you to the resources needed for home decor, home decorating, home theater, home improvement, houses for rent, business for sale, a gingerbread house, directions to the Home Depot, as well as land for sale or home plans. As a realtor member of the multiple listing service she has access to REALTORS®, mls listing, real estate listings, home builders, commercial real estate, and new homes. Whether you're looking to buy for yourself or are interested in real estate investing, homes for sale by owner, or just real estate for sale, Teri Taylor is the REALTOR® for you.
As a member of the National Association of
REALTORS®,
Teri
Taylor is your full service
REALTOR®.
She enjoys excellent relations with lenders, appraisers,
inspectors,
title
companies, and all other people involved with buying and selling real estate.
Whether it's information on mortgages,
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Her motto is "Real Estate Services Taylor"ed" for You." |
Tips and Tricks |
Prepare Your Home to Sell
Landscaping / Curb Appeal Is your landscaping average in the neighborhood? If not, then purchasing a few bushes and ground covers will certainly help. Don't suffer by planting trees. Mature trees are expensive, and you won't have time to enjoy them. Also, smaller trees do not really add much to the "curb appeal" of your home. If you have a nice spot for flowers, get mature colorful flowers and plant them. They add a splash of pizzazz by showing warm appeal and color, creating an immediate favorable first impression. Smaller seeded plants or bulbs are not recommended at this point either. Your lawn should be manicured, well watered, and free of those ugly brown spots. Any problems with the lawn should probably be taken care of them before working on the inside of your home. This is because certain areas may not take the sod, and you want to give it a chance to grow so that re-sod areas are not immediately apparent. Always rake up loose leaves and grass cuttings. Uncluttering the clutter This is probably the most difficult thing for most people to do because they are emotionally attached to just about every possession in their house. After living in the same home for years, clutter accumulates in ways the homeowner may not even realize. However, buyers do see this in your home, even if you do not realize it! Clutter collects on shelves, counter tops, drawers, closets, garages, attics, and basements. You want to give the appearance of creating as much open space as possible, so even extra little things needs to be removed if possible. Let friends or family members help point out areas of clutter, as long as you can accept their constructive criticism! If possible let your agent or representative help you and try to put yourself in the buyers shoes when doing a "clutter assessment". Clutter in the kitchen Start removing clutter from the kitchen, because it is an easy place to get started. First, remove everything off the counters. Every single item. Even the coffee maker. Put the coffee maker in a cabinet and take it out when you need it. Find a storage place where you can put everything in cabinets and drawers for retrieval later. Notice that you do not have cabinet space to put everything! Clean them out. Put dishes, pots and pans that rarely get used in a box and don't forget to put the box in storage. Homebuyers are known to open all your cabinets and drawers, especially in the kitchen. They need to know their stuff is going to able to fit. Kitchen cabinets, pantries, and drawers that look crammed, sends a message to the buyer that plentiful storage space is lacking and leaves mental impression in their minds. The most effective method is to have as much empty space as possible! In particular, if you have a junk drawer, get rid of the junk! If you have a rarely used ice tea maker, put it in away. Do an inventory on every cabinet and drawer. Create a feeling of open space all around. If you have foodstuffs shoved into the shelves or pantry, start using them; especially canned goods. The last thing you want to do during the moving process is lug around extra canned goods that weigh hundreds of pounds! Under the sink is very important as well. Take all efforts to ensure the area beneath the sink is as empty as possible, removing all unnecessary cleaning articles. You should scrub these areas thoroughly, and determine if there are any signs of water leaks or damage. You don't want to cause a homebuyer to hesitate in buying your home due to a small overlooked item. |