What is a "CMA" or Comparative Market Report

Whether you are selling your home or thinking about selling your home and even if you are buying a home, a "CMA" or Comparative Market Report contains invaluable information about your neighborhoods recent real estate market activity.  Trulia and Zillow give you an estimate of your homes value and it has been proven that these websites do not have accurate and complete information about your homes current market value. These websites have a long delay in updating their information and quite often they do not have their information correct to begin with. This is why I urge you to consult with a Realtor in your area who can create an accurate market report for you. 

What exactly is a "CMA" or Comparative Market Report?

The real estate professional you contact to prepare your report will research your neighborhood real estate activity and compile a market value range for your home.  How do we do this?
You should be asked by your Realtor if you have made any improvements to your home. How old is your roof, how old is your HVAC system, have you replaced your homes windows etc... You should also inform the real estate agent of any updates you have done like kitchen or bathroom renovations.  We need to know this information so we can accurately compare your home to the others in your neighborhood. 

We then research the MLS system for "comps" or comparable homes. These are homes in your neighborhood with similar floor plan, sure footage and features that are most similar to your home. Should you own a unique property in a community of varied home styles, we take it a but further and I would urge you to speak to a Luxury home professional with experience in unique homes.   Once we have "comps" for your home we look at these specific criteria. Homes that have Sold in the last 3-6 months. Homes that are currently Pending closing. These Pending homes have executed contracts on them and are moving forward to being Sold within the next 30-60 days. These homes are very important as they show us what the home price were that attracted buyers to make an offer on the house. Homes that are Active with Contract are also included in your report. These homes have executed contracts on them but the financing, inspections or other contingencies of the sale have not yet been met. Once these contingencies have been satisfied the home will move into a Pending status. Therefore Active with Contract homes as just as important as those that are already Pending. 

Withdrawn homes are ones I do not include in your report. These homes have been removed from the market for any number of reason and will not be included by an appraiser at the time your homes appraisal is performed. Expired homes can show us what price range was too high to attract a buyer as they have "expired" without a sale during the term of their listing agreement with the Realtor.  Our professional opinion on Expired homes is that they will not necessarily be beneficial to your report and often times they are excluded.  My job is to give you the most comprehensive and accurate information and Withdrawn or Expired homes have too many variables to their situation that would require speculations on our part.

I offer you the ability to receive a comparative market report delivered right to your email. You can fill out my online contact form and request the information. I will need to call you to discuss your upgrades and homes features so please include your pone number. I Will Not solicit your business to list your home and I do not require you to sign or agree to anything in order to get your Comparative Market Report. We serve the cities of Trinity, Odessa, New Port Richey, Land O'Lakes, Port Richey and Hudson Florida.

  

Pricing Your Home to Sell is Easy With This One Tip

When selling your home, everything rises and falls on price. You may not be able to update your kitchen, you can't move the home to another neighborhood and you can't think that buyers will pay any amount you want.  There is One Tip that you need to know in order to price your home to attract a buyer.

Over 95% of Home Buyers Start Their Search ONLINE

In order to price your home competitively for your local market and to attract home buyers you will need to understand how your prospective buyers are searching for a home. 

Whether your buyer is surfing the consumer real estate websites like Realtor.com or they are having a real estate professional do the search for them, all home searches have a minimum and maximum price range. Home buyers have access to your homes tax record and assessed value and can easily look up recent sales in your neighborhood on Realtor.com so they already have a value range for the homes in your neighborhood.  All Realtors(R) have access to the same information and it will be reflected in your homes comparative market analysis that your listing agent brings to you. Should you price your home over your neighborhoods value range the buyer and/or the real estate agent doing the search will Not See Your Home. 

Your best price position when selling your home is the middle to upper middle of your neighborhoods market value range. 

I am more than happy to create a market analysis report for your home in Port Richey, New Port Richey or Trinity Florida at no obligation to you. Contact me online and request your market report. 

How Much Do We Offer on The Home We Want?

Searching for a new home is an exciting time and

once you find that prefect house to make your home, you may be unsure about how much to offer on the house.  Often times if you really want the home and if the local housing market is moving quickly you may want to make a full price offer providing it is a realistic price.  Your Realtor(R) can advise you in this area.  We cannot tell you how much to offer, but we can advise you on the market conditions and what comparable homes have sold for.

I give you what is called a quick cma. This is a less flashy Comparative Market Analysis that only shows you the statistics of what has sold and what is currently under contract.  This quick cma will give you a snapshot of the local market and what the maximum, average and minimum sales prices have been in the last 3-6 months.  We will be cautious to not go back further than 6 months since the market in our area of New Port Richey & Trinity Florida is increasing and if we look at data that is too old, your offer may be inferior to another persons offer and you may not get the house.  Ideally, I will show you local real estate market activity for the last 3 months. This is something that any real estate agent should be doing for you when you are thinking about how much to offer on a home. 

One important aspect of the Comparative Market

Analysis (commonly referred to as a CMA) is the days on market of the homes in the report.  Generally speaking, a home that has been on the sales market for a longer period of time than other homes will most likely sell for less money than other homes in the neighborhood. Looking at the days on market can help you decide how much to offer on the home you like.  I always meet with you for a consultation to go over the data in the reports so you can make an informed decision on how much to offer. My job as your real estate professional is to make sure you get the home you want at a fair price and I take that part of my job very seriously. 

When a homeowner lists their home for sale, they also review a Comparative Market Analysis to evaluate the right asking price for their home. The report they see will be almost identical to the one you see provided both Realtors(R) prepared there reports properly. This is why I say that often times you may want to make a full price offer to be sure you get the home that you want.  The seller has most likely priced the home in a fair price range based on the CMA.  Our local Real Estate market in New Port Richey and Trinity Florida is a sellers market and with that variable added to the equation your ability to make a lower offer or a low-ball offer (thats a super low offer) may not get you the home.  Recently I had buyers who balked at list prices of homes and every one of those houses went under contract and sold. Listen to the information that your real estate agent is giving you.  Don't lose out on the house! Contact Me online anytime for more information about how much to offer on a home or home much you should ask when selling your home in Port Richey, New Port Richey or Trinity Florida.