After having a difficult time financially for quite some time, I realized that part of my problem was my personal housing costs. I really began evaluating what I wanted out of a home, and I realized that I needed to shop for a place that would work better for what I needed. I started paying more and more attention to real estate risks, and it occurred to me that I hadn't invested in a smart property. After talking with my real estate agent, I started focusing on changing my ways, and it was incredible to see how much brighter my future became.
One of the steps a real estate agent will complete before meeting with you to list your home for sale is completing a comparative market analysis (CMA). CMAs are very useful reports and are commonly used in the real estate industry, and here are a few things a CMA of your home can tell you when you are trying to sell your house.
It offers a realistic value of your home
A CMA is a report a real estate agent will create just for your home, and the main purpose of a CMA is to help you see how much your house is worth. The value it lists will be based primarily on the selling prices of homes in your area within recent times. While the report is not based on an appraisal, it is based on a lot of important factors. Your agent will determine the value of your house based on how it compares to other homes. Some of the factors your agent will compare are location, size, number of bedrooms, and size of yard. When you receive the report, you will have a good idea as to how much you should ask for your home.
It helps you see the types and prices of other homes that are for sale
The CMA you receive will also offer information about other homes that are either currently for sale or that recently were sold in your area. By viewing other homes like this, you will be able to see why your agent calculated the value to be what it is and what the homes were that he or she compared your home to. Knowing what types of homes are currently selling can help you understand the benefits your house offers or the challenges you might face.
By using the information from this report, you may be able to see changes you can make that would help you sell for a higher amount, and it may also help you sell faster, simply because you put an asking price on your house that is accurate for today's market.
If you are not sure how much your home is worth today, ask a real estate agent to complete a CMA. From this, you can decide if you want to sell and what price you should place on the house. You can learn more about selling your house by talking to a real estate agent. For more information, contact a company like Janice Overbeck Real Estate Team.