Pricing Your Property
Your property has many values: one to the tax assessment office, one to your mortgage underwriter, and yet one to you. It also has different values to prospective buyers depending on their needs, desires and financial resources. In the end, what detemines the price of your property is the market.
The Comparative Market Analysis (CMA) Report is a roadmap to the correct listing price for your property - the price that will create competition amongst a pool of qualified buyers, and attract a strong offer (or multiple offers) within a relatively short period of time.
Factors taken into account in a CMA Report are as follows:
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physical features - location, usable square footage and condition
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market conditions - buyer demand, prices of recently sold, interest rates & terms, the economy and seasonal demand
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the competition - similar properties available for sale, their price, location & condition
