Friday, October 27, 2017 / by Jack W. Zaborowski
How Market Value Is Determined,,,The CMA
How Market Value is Determined Your Current Market Analysis (CMA)
There are many ways the market value of your home is determined.
Most Important......The TRUE market value of your home is what the BUYER is willing to pay for the property!
- Based on today's market
- Based on today's competition
- Based on today's financing
- Based on today's economic conditions
- Based on the buyer's perception of the condition of the property
- Based on the location
- Based on what similar homes have sold for in the immediate neighborhood, if available
- Based on what similar homes have sold for in the city
- Based on normal marketing time
How properties SELL in today's market:
- Improving upon the condition when feasible and able to
- Improving upon the way the home shows
- putting personal items away
- Ease of showing the home
- Availability to show the home
- Adjusting the price
- Offering good terms
The market value of your home is NOT:
- What you have in the home
- What you need out of it
- What you want
- What it has appraised for
- What the neighbor's home sold for
- What the tax office says its worth
- What it would cost to replace it
- Based on the prices of the homes you are moving
SEE THE BEGINNING IT IS WHAT THE BUYER IS WILLING TO PAY!
Things to keep in mind that cause the need for re-evaluation:
- Realtor elimination- when the realtors aren't previewing and showing it
- Buyer elimination- when after being shown, the buyers are finding better properties to buy and the offers aren't being made on yours
To get your estimated CMA, click on the link and submit the information. If not in our immediate SELLING area, we will be happy to REFER you to someone that can assist you anywhere in the world.
Want to find out "What Is Your Worth?