CMA

I can also do a Comparative Market Analysis (CMA) for free.

A CMA is an attempt to find what the fair market value is for a property. More exactly it is trying to answer the question, if this property was placed on the market, what would it actually sell for?

You can sign up for automated home valuation through prudentialct.com or also try zillow.com. Both can give you a reasonable starting point for determining the value of your home.

Both of these have limitations though. They work off nothing but the math of recent prices, square footage, and the number of bathrooms and bedrooms. They wont know if one house sold for more because it was in perfect condition, or that one of the bedrooms is in the basement, or that the only bathroom is downstairs and opens onto the kitchen, or that one house has perfect hardwood floors. They certainly cant smell cat urine either. There are dozens of reasons why the math can be wrong.

So when it actually comes down to placing your home on the market, its vital that you have a CMA done by a local professional. Its critical you price it as close to fair market value as possible when you come to market. Thats when you have your best chance to get the most money possible for your house, plus sell it quickly.

In doing a CMA I look at the houses similar to yours that have recently failed to sell, recently sold, and are currently on the market. The goal is to find a price point that is going to generate interest and motivate the Golden Buyers to visit your house and make serious offers, without compromising your profit from the sale.

In order to do a CMA I will have to also visit the property in question. The report itself can be either mailed or emailed to you.

Note when acting as a Buyer Agent I also do a CMA before we place offers on any property. No point overpaying as a buyer, or missing out on a deal because you weren’t sure it was one.