Whats My Home Worth!
Request A Free Home Valuation
When you are contemplating selling or are just curious about the current market, it is important to know the value of your home. I will provide you with a detailed report also known as Comparative Market Analysis (CMA). This is NOT an appraisal but is a detailed report on recent comparable property sales and what is currently listed on the market in your area. It is my pleasure to provide you this service complimentary, just keep me in mind when it comes time for you, a neighbor, or friend to buy or sell a home and need a Realtor. I look forward to working with you!
Why Do I Need A Home Valuation aka A CMA?
Before we list your home on the real estate market, I will provide a detailed Home Valuation aka a CMA which I will explain in detail with you in person. This is a detailed report that helps determine the market value of your home based on recent comparable nearby home sales.
Although reports may vary in size from a detailed five-page collection of corresponding home sales into some 30-60-page comprehensive report. The size and complexity your CMA document is largely dependent of the amount of data available for your area. Most well-done CMA Reports contain the following Information:
Active Homes for Sale
these are the homes currently listed for sale on the market. They aren’t always good indicators of your homes market value due to the fact sellers can ask anything they feel like for their property. It does not take into account overpriced homes. The asking home price costs can’t be used to determine market worth until the homes are sold and the transaction is closed, and also in a buyer’s market homes can close for a significant amount less than asking price. A good way to research your Spring Hill Tn realtor’s ability to properly price a home is to search their past sales and see how many price reductions they had to do to sell previous homes. The closer to asking price they have a record of selling homes the better.
Pending sale houses are previously active listings which are under binding contract. Unfortunately, they still haven’t closed, so they’re not yet a comparable. Until the listing broker is prepared to share the details regarding the impending sale, we are not going to see the actual closed price prior to the closing on the home. But, pending sales have the ability to suggest the way the housing market is trending. It is imperative to properly price your home, as overpriced homes sit on the market and will receive lowball offers and result in a lower sale price than if the house was properly priced the first time.
These will be the comparable properties the appraiser will use while assessing the market value of your house for the buyer. The appraiser uses the sold properties next to the pending sales. We will take a detailed in depth look at these because these are what determine your homes market value. It is the best practice to only include home sales from the last 3 months in high sales volume areas, in low sale areas we may go back as far as 6 months.
This is just a brief explanation of the CMA, process id love to chat with you about your home in person!, Send me a message or give me a call and we can go over all of your real estate needs.