What Is The Value Of Your Home?

You may not be aware that all internet resources are not created equally. A one-size-fits-all algorithm cannot identify your home's genuine value, despite the fact that many homeowners check Zillow to see how much their properties are worth. We can help with that as your reliable Realtors. In order for you to know how much your house is worth in the current market, we wish to provide you a FREE Equity Report. Call us right away!

Comparative Market Analysis - What is it and why you need it

A comparative market analysis, or CMA, is an in-depth look at a specific geographic area's real estate market. This includes recent sales prices of similar homes, current listings, and other factors that can impact the value of a home.

A CMA is important for several reasons. First, if you're thinking about selling your home, a CMA will give you a good idea of what your home is worth in today's market. Second, if you're thinking about buying a home, a CMA will help you determine how much to offer on a property.

A CMA is typically prepared by a real estate agent and is based on public records, MLS data, and their own knowledge of the market. In this blog post, we'll give you an overview of what a CMA is and how it can be used to help you make informed decisions about buying or selling a home.

There are two main ways that CMAs are used:

1) To price a home for sale
If you're thinking about selling your home, your real estate agent will prepare a CMA to help you price your home competitively. The report will take into account recent sales prices of similar homes in your area (comparables), as well as current listings. Your agent will also consider other factors that could impact the value of your home, such as the condition of your property and any upgrades that have been made.
2) To make an offer on a home
If you're in the market for a new home, your agent can prepare a CMA to help you determine how much to offer on properties that you're interested in. The report will take into account recent sales prices of similar homes in the area (comparables), as well as current listings. Your agent will also consider other factors that could impact the value of the property, such as the condition of the property and any upgrades that have been made.

Comparative Market Analysis Example

Let's say that you're thinking about selling your three-bedroom house in Atlanta, Georgia. Your real estate agent pulls comps for similar homes that have sold in your neighborhood over the past six months and finds that comparable homes have sold for an average price of $250,000. They also find that there are currently three listings for three-bedroom houses in your neighborhood with an average asking price of $275,000. Based on this information, they recommend listing your house at $259,000—a competitive price that should attract buyers while still earning you a good profit on the sale.

Now let's say that you're interested in buying a three-bedroom house in Atlanta but aren't sure how much to offer on properties that you're interested in. Your real estate agent pulls comps for similar homes that have sold in neighborhoods that you're interested in over the past six months and finds that comparable homes have sold for an average price of $250 per square foot . They also find that there are currently three listings for three-bedroom houses in those neighborhoods with an average asking price of $275 per square foot . Based on this information they recommend making an offer of $260 per square foot —a competitive price that should earn you the house while still leaving room for negotiation."

In short, comparative market analysis (CMA) is an important tool used by real estate agents to price homes for sale and determine how much to offer on properties when buying them . A typical CMA report takes into account recent sales prices , current listings , and other factors like location , condition , and upgrades . By understanding what goes into comparative market analysis ,you can be sure to make informed decisions when buying or selling property.

If you are interested in buying, selling, investing, or just curious what your home is worth in today's market, reach out today!