Real Estate Articles Worth Reading
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Real Estate Articles Worth Reading
Scoop.it for Real Estate. See real estate articles worth reading about buying and selling a home from many sources from around the internet including the http://www.maxrealestateexposure.com blog.
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How Do You Perform a Comparative Market Analysis?

How Do You Perform a Comparative Market Analysis? | Real Estate Articles Worth Reading | Scoop.it
Have you heard the real estate term 'CMA' and wondered what it was? It's an abbreviation for comparative market analysis. If you are selling your home, deciding how much to ask can be difficult. Likewise, choosing how much to offer for the home is crucial when you are buying. Whichever side of the real estate transaction you are on, getting this wrong could cost you thousands of dollars. When selling your home, having an appropriate listing price is crucial. When you're buying, you want to be able to know what would be considered a competitive offer. A fair price in
Bill Gassett's insight:

When you are selling a home, there are few things more important than pricing the properly accurately. If you get that wrong, your home will languish on the market.

 

Increasing days on the market are one of the things that can cut into a seller's profits. The way to overcome incorrect pricing is to get a competitive market analysis from a top agent in the local market.

 

The CMA will look closely at the most recent sales that are similar to the subject property. There will also be some analysis given to pending sales and properties that are currently listed. The most significant information will be what's sold. It will receive the highest weight in determining proper pricing.

 

Look at the analysis through the eyes of the buyer. Take your emotions out of the pricing process.

 

You don't want just any agent but someone who has a track record of success at pricing homes. The agent should rarely ever have to reduce the price of their properties. A price reduction is a pricing mistake!

 

Never take for granted what different agents do to get their clients the most money. Just like other industries, some shine and some don't.

 

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Tips to Find Comparables in House Sales

Tips to Find Comparables in House Sales | Real Estate Articles Worth Reading | Scoop.it
Understanding 'Comps' When Selling a Home Have you heard a real estate agent talking about 'comps' or 'comparables' and wondered what the heck it means? Comparables or comps are the terms used for similar homes that have recently sold to help find the best listing price when selling properties. The listing price should encourage buyer interest, reducing the time it takes to sell the home. But finding the right price isn't easy, and making a mistake can cost you a lot. As a real estate agent working on analyzing value, finding the right comparable sales can make or break the
Bill Gassett's insight:

When you are selling a home one of the most essential factors will no doubt be getting a handle on the value. Of course, you can get a ton of differing opinions on value, but the one that will be the most crucial is the one that is accurate.

 

So, how do you go about getting the right home value? It is all about understanding how real estate comps work. You need to have the right comparable sales and then once you have them interpret the data properly.

 

Understanding comps is easier said than done. It can take years of practice. Market value can also be a bit subjective. In the article at Maximum Real Estate Exposure, you'll learn everything you need to know about "comps" and "comparables".

 

Take a look and if you have any questions, feel free to reach out for help on analyzing the value of your property.