Joshua Sloan is your experienced REALTOR® for San Diego real estate. Visit his website at SanDiegoRealEstateBuzz.com to find San Diego short sales, property listings, and more.
To get the best price in the current market, you should have a comparative market analysis (CMA) done on your home. Real estate agents often offer CMAs as part of their services, usually for free. A CMA contains information about how much is being asked for homes on the market, prices of homes currently under contract but not sold yet, homes that have recently sold, and expired listings. All of the homes in a CMA should be reasonably close to the size, age, condition, amenities, upgrades, and location of your home. This information is then used to determine how much your home is likely to sell for in the current market.
Beware of recent inflated home prices affecting your expectations of what your home should sell for today. 2005 prices are not the prices of 2009 and 2010. In a market where prices can fluctuate based on seemingly unrelated events, it is inadvisable to use your purchase price to determine your selling price. In today’s "buyer’s market", overpricing only means that people will ignore your home for something more reasonably priced. What you paid for your home means nothing in a buyer’s market; all people care about is how much homes are selling for now. If you really need or want to sell, you may be facing a significant loss. Accepting the possibility (or reality) of this will make it easier to sell your home for the best price possible. Getting a CMA done will give you and your agent a price that will likely be considered seriously by buyers.
Analyses can differ depending on a number of factors. The number of comparable homes currently on the market can be a lot different than the number of similar properties available a month ago. CMAs can also differ depending on the different characteristics of the homes compared. If you’re selling a 2 bedroom rancher with a 30 year old roof, likely it won’t go for as much as a 2 bedroom rancher with a 5 year old roof. If your home is exquisitely maintained, it will likely go for more than a comparable home that was advertised as a "fixer-upper". Any upgrades or amenities that your home has should be included in the evaluation.
An analysis of your home is highly recommended if you want to sell your home for the very best price you can get for it. A CMA will help you and your agent evaluate your home and show you what homes like it are being priced for and what they’re selling for. Allowing for differences between homes and the markets, you should end up with an idea of what your home is presently worth.
- Related Videos
- Related Articles
- Ask / Related Q&A
- What is a Comparative Market Analysis?
- What Exactly is a Cma (comparative Market Analysis) and What Does it Mean for a Buyer?
- Real Estate Terms: Understanding What a Comparable Market Analysis is All About
- The 6 P's of Real Estate Marketing
- Basic Marketing for Realtors
- Ways to Get the Accurate Market Value of your Property
Virginia basement - contractor northern Virginia basement remodeling
By: John Cvetkovic | 30/11/2009There are certain minimum quality service criteria under which the contractor northern Virginia basement remodeling is expected to work by. The contractors that work with this high quality Virginia basement remodeling products are governed by values such as integrity, excellence and professionalism. This means that you would not expect regrets when working with any such contractors.
North Virginia Window Company-Distinctly ahead in features
By: John Cvetkovic | 30/11/2009Next to Washington in the terms of population and economic importance Virginia is also a very major city of our united states. A home to so many cultures and ethnicities NOVA is a true cosmopolitan of the times, and being in this city finding a Window replacement Northern Virginia is not very difficult. All you need to do when you feel the need to replace those old window grill or rails is to call for a northern Virginia window company to help you with the replacements
Materials for Virginia decks
By: John Cvetkovic | 30/11/2009If we talk in the terms of the architecture, then we can define the deck as a flat surface that is capable of affirming the weights like the floors, etc. decks are used for the purpose of outdoor living in countries like Virginia. The term custom decks Virginia has been originated from the generalization of the decks that are found on the ships.
Kitchen Remodeling in Virginia- It cant get better than this!
By: John Cvetkovic | 30/11/2009Kitchen remodeling in Virginia has been first class seeing that many companies that had established base in this State has began to diversify. People who were concerned about the costs that they would incur if at all they opt for one of the established providers of Kitchen Remodeling Virginia has ever seen.
Kitchen Designer Virginia-Fits the bill!
By: John Cvetkovic | 30/11/2009If you behold the option of employing a kitchen designer Virginia really has loads of professionals to let you pick the one in accordance to your remodeling needs and pre requisites! Once you are done with the hiring you may sit back and see the proceedings taking shape swiftly without any hassles. But one will enjoy such a luxury only if he chooses the reliable centers of Kitchen remodeling Virginia State has in it.
Kitchen Countertops Virginia Renovator’s Specialty
By: John Cvetkovic | 30/11/2009Always the custom of remodeling the kitchen is beneficial considering the opportunity that it brings to you when you look at selling the house someday down the line. Frequently if you venture some useful home improvement plans and valuable upgrading of the house you stand a great chance of selling your house for a competitive rate in the cutthroat real estate market.
Information about Virginia contractors
By: John Cvetkovic | 30/11/2009Virginia is a state in the south west United States. It is nicknamed as the old dominion and as the mother of presidents. This is because 8 of the United States’ presidents were born here. The capital of Virginia is Richmond. Housing is very much famous in Virginia. This is because the landscape of the country suits very much to the needs of the people.
Jumbo Mortgages Making a Comeback
By: Josh Sloan | 17/04/2009 | MortgageGuy Cecala, publisher of Inside Mortgage Finance claims that the Bank of America rates are lower than main competitors Wells Fargo, J.P. Morgan Chase and Citibank, and that it won't be long before others will be jumping on the bandwagon. He was right.
Street Gang Real Estate Fraud
By: Josh Sloan | 13/04/2009 | Real EstateThis elaborate con which ran from 2005 to 2008, defrauded over 70 lenders and involved the sale of 220 homes and mortgages with a total value in excess of $100 million. The Southern California homes targeted were located in Spring Valley, La Mesa and Encanto neighborhood of San Diego.
Top 5 Blackberry Apps for Realtors
By: Josh Sloan | 03/04/2009 | Business IdeasAre you owner of a “Crackberry” or are you considering adding this powerful little tool to your real estate arsenal? The BlackBerry is a SmartPhone that seems virtually designed for the busy broker, Realtor and agent, with plenty of customizable features and support for downloadable applications that can make your life a lot easier while you’re on the road.
What is a Comparative Market Analysis?
By: Josh Sloan | 24/03/2009 | Real EstateA CMA contains information about how much is being asked for homes on the market, prices of homes currently under contract but not sold yet, homes that have recently sold, and expired listings. All of the homes in a CMA should be reasonably close to the size, age, condition, amenities, upgrades, and location of your home. This information is then used to determine how much your home is likely to sell for in the current market.
Bonuses, Windfalls And Your Mortgage
By: Josh Sloan | 04/03/2009 | MortgageYour work bonus may help you buy a home. While some lenders might look at bonuses with a suspicious eye, there are provisions in the FHA for regularly received or earned bonuses. This can help you qualify for a mortgage that you otherwise might not be able to obtain.
10 Tips to Perk Up Your Yard for Sale
By: Josh Sloan | 26/01/2009 | Real EstateWhen I had my last home up for sale, I was outside gardening when someone drove up and asked me about the house. He proceeded to go home, collect his wife and family and bring them over for a complete inspection, and subsequently purchased our home. I believe this buyer's mind was made up before he toured the home. In a similar circumstance, I saw a picture of our current home on the internet and decided this was the house for me.
Coastal Gems in San Diego County
By: Josh Sloan | 26/01/2009 | Real EstateThe La Costa Resort and Spa is part of a massive residential community in Carlsbad that consists of two 18-hole golf courses, hotel, condominium units, 19 tennis courts, boutiques and fine dining.