Saturday, August 29, 2015

Federico Filippi's photo.What is a - C.M.A.? - "Comparative Market Analysis"

If you are planning on buying or selling a home, your Real Estate Agent can give you a brief snapshot of your local market known as the Comparative Market Analysis or CMA. These are fairly detailed reports helping Sellers to choose a listing price and Buyers to make competitive offers on a given home.

CMA's are generated from multiple listing service software and can vary greatly depending on the search fields that are input by your real estate agent. The report will break down the type of home (detached vs. attached), zip code, number of bedrooms, baths and living areas, square footage, and numerous other search criteria.

The end result is a report that will indicate which homes have recently sold, their selling prices, how long they >>>

were on the market and other information. The CMA will also tell you about homes in competition with yours that are similar in size, price, amenities, and location.

CMA results may vary even between identical homes. One property may simply offer better curb appeal or is in better condition than the other. One may be updated or staged more attractively. Those differences can be reflected in the sales price.

When you're looking at properties that sold, you can also learn how long the home took to sell. This is where your Oceanside Real Estate Agent who is a neighborhood specialist can be invaluable. He or she may have viewed these homes while they were being marketed and can tell you if they were in condition similar to yours.

Unfortunately one item a CMA can't tell you is why a seller agreed to take less for their home or why a buyer paid over market for another home. There might have been Family issues, job relocations and other reasons all play a role. If the sale was quick, the seller was likely highly motivated to take the first offer. If it didn't sell quickly, the seller may have overpriced the home.

For these reasons, CMA's are not home valuations. They are simply tools to use alongside your real estate agent's knowledge of the current market. Your real estate agent, Chase Bell, at PIERVIEW PROPERTIES Real Estate will suggest a pricing strategy for you based on the CMA, but the asking price will be up to you.

ONE MORE NOTE: Please Listen to your Real Estate Agent, as He or She is there to help you along with the process. Selling your home is a business transaction - period. As close as you may be to your home emotionally - the buyer really does not care. They are looking for a Great home at a Great price - for them!
Last, a CMA is only as good as the most current information. Chase Bell will keep you informed of the market with New Properties and Current information.
Call Now and Speak to CHASE BELL for your FREE CMA!   

CA-BRE #01828304
CA-BRE #00712580
302 N. Cleveland St.
Oceanside, CA 92054