Profile picture for L.L.A.

How to get a current market value of a home for sale?

My area has not had a sold home since 9-8-10 how would I determine the CMA?
  • November 16 2010 - Redwood Heights
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Answers (4)

Profile picture for Ellie Everson

Check with a real estate professional familiar with your area.  They should be able to go back more than 2 months to compare houses similar to yours.  You can order an appraisal from an appraiser.  An appraiser will charge a fee for this service.

Ellie Everson

Century 21, Fischer, Rounds & Assoc.

  • November 16 2010
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Profile picture for Pacita Dimacali
LLA

We don't just go by time alone when doing a CMA. If no sales of similar properties have occurred in 3 months, we may go back 6 months. We also check adjoining areas for similar properties and make adjustments accordingly.

Note that we may make allowances for short sales and REOs, but if the majority of properties sold are short sales and REOs, then these will most certainly affect market value.

Email me with the property address....I may be able to help.
  • November 16 2010
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Find a real estate broker who can "analyse" the market for you. That is not just a CMA,( which does not give all or complete information aniways),  but also all other statistics used to "appraise" a property. Do not know where your property is located. Email me to find out if it is in my area. Aepirson@yahoo.com
  • November 17 2010
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I agree with Patricia. We would go back 6 months and expand the area to get enough comps.
  • November 17 2010
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