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Answers (11)
- Kathy_Auerbach
- Contributions:75
In our area (nw Washington state), comparative market analyses are offered without charge to anyone asking for them. For example, I do them for buyers as well as sellers so that buyers will know what comparable homes are selling for/have sold for. Sellers need to know about home currently on the market (their competition), those that did not sell (homes buyers rejected for one or more reasons), those that have received offers but not yet sold (they tells us about pricing trends), AND those that have sold recently (the success stories). A good market analysis can provide good information for a seller to consider when making a decision about his/her own home. For example,
a) is this a good time to put the home on the market? If not, can the seller wait or does a transfer or other life change require that the home go on the market now?
b) what is the best price to list a home? This number must make the home a "best buy" among all those just like it that are on the market. Buyers don't care what a sellers "needs" to get; they only care about what home they can afford for the least amount of money that still meets their needs.
c) How long is it taking for homes to sell in a given area/neighborhood? A market analysis will provide that information. This can help greatly by providing REALISTIC information about the process in today's economy.
In our area, homes that are staged, priced right, and aggressively marketed are selling. Homes that are not staged, are priced above the market, and not really widely advertised are sitting and sitting and sitting.
a) is this a good time to put the home on the market? If not, can the seller wait or does a transfer or other life change require that the home go on the market now?
b) what is the best price to list a home? This number must make the home a "best buy" among all those just like it that are on the market. Buyers don't care what a sellers "needs" to get; they only care about what home they can afford for the least amount of money that still meets their needs.
c) How long is it taking for homes to sell in a given area/neighborhood? A market analysis will provide that information. This can help greatly by providing REALISTIC information about the process in today's economy.
In our area, homes that are staged, priced right, and aggressively marketed are selling. Homes that are not staged, are priced above the market, and not really widely advertised are sitting and sitting and sitting.
- Francee Foster, "Francee Foster"
- Contributions:110
Just a little info on the answers provided below. A CMA usually ranges from $100-$150. Some realtors will do a CMA for free in hopes to be able to list your home at some point. While others knowing you just want information and have no intentions of listing through them will charge a fee because a CMA does take time to put together. I hope this helps.
- Janice Cohen
- Contributions:24
CMA stands for Comparative Market Analysis. It generally compares your home to ones that sold in the past 3 months within .5 miles and has relatively the same sq footage and features. It is the best way to determine the price to list your home at, and also helps buyers determine the price to pay for the property. I am in the Los Angeles area and would be glad to help you value your home. You can reach me at janice@janicecohen.com or (818) 497 0513.
- Jean Villa, "JeanVilla.com"
- Contributions:59
CMAs are just a high level estimate for your home. Once a realtor visits your home, they will have a better idea of the price range for your home. For a free CMA in Clinton and Stewartsville NJ areas, please contact me via email on JVilla@Weichert.com or on my Cell 24/7 908-319-9556 - I will be glad to assist.
- Chris Notzon, "laredo broker"
- Contributions:94
A "CMA" is a comparative market analysis. It is used by licensed real estate brokers, and agents to guide homebuyers to a true and reasonable estimate of their homes estimated value in the market. Most CMA's are done as a courtesy by brokers to prospective homesellers prior to lsiting a home for sale on the market. To obtain a CMA, contact licensed real estate agent or broker.* If you are not ready to list, simply let the prospective agent or broker know. they may still be willing to provide you with this information in the hope that you will list with them in the future.
- Naima Sumner, "Dallas Ft. Worth PRO"
- Contributions:2849
It looks like you got your answer to your question below. I'd like to add that the market analysis is provided free of charge by most Realtors.
I'll be happy to provide you with one with no obligation whatsoever.
Naima
I'll be happy to provide you with one with no obligation whatsoever.
Naima
- Ryan Halset, "RyanHalset"
- Contributions:730
The answers below are good - I would add that a quality CMA also includes current comparable listings and comparable expired listings.
You want your agent to show you:
- What has sold (determine why, how long, what for, etc.)
- What didn't...expired or canceled listings (try to determine why they didn't sell)
- What your competition is, condition of the homes, how they are priced, and how long they've been on the market (so you get an offer first!)
Use these statistics and information, drive by these houses, and list at the correct price for a quicker sale!
You want your agent to show you:
- What has sold (determine why, how long, what for, etc.)
- What didn't...expired or canceled listings (try to determine why they didn't sell)
- What your competition is, condition of the homes, how they are priced, and how long they've been on the market (so you get an offer first!)
Use these statistics and information, drive by these houses, and list at the correct price for a quicker sale!
- Dunes....
- Contributions:3894
@Jason
You gave a "Most Excellent" answer and I hope to see more good helpful posts like this from you as it improves Zillow and helps the consumer....
However being somewhat new you may not be aware that the Sign-off you used is against Zillows Spam Policy and if Zillow becomes aware of it they will remove the Contact info (Phone# & Web site)..They will replace it with [Content removed by Moderator] which doesn't look so good especially after such a good post...
Trulia does allow that type of sign-off so I know it can be confusing but here at Zillow it is considered Spam....
What is considered spam in Zillow Advice?
Zillow Advice is a place for Zillow users to discuss real estate topics (such as buying, selling, renting, and remodeling homes) and Zillow-specific topics (such as questions and comments about Zillow features). It is not a place for advertising. Any self-promotional content that is posted will be considered spam and will be removed by a moderator. We'd also like to keep the discussions on topic. Off-topic posts will be reviewed and may be deleted.Zillow FAQ
Please know I appreciate the answer you provided here and hope you will take my post as it was intended..to also be helpful
You gave a "Most Excellent" answer and I hope to see more good helpful posts like this from you as it improves Zillow and helps the consumer....
However being somewhat new you may not be aware that the Sign-off you used is against Zillows Spam Policy and if Zillow becomes aware of it they will remove the Contact info (Phone# & Web site)..They will replace it with [Content removed by Moderator] which doesn't look so good especially after such a good post...
Trulia does allow that type of sign-off so I know it can be confusing but here at Zillow it is considered Spam....
What is considered spam in Zillow Advice?
Zillow Advice is a place for Zillow users to discuss real estate topics (such as buying, selling, renting, and remodeling homes) and Zillow-specific topics (such as questions and comments about Zillow features). It is not a place for advertising. Any self-promotional content that is posted will be considered spam and will be removed by a moderator. We'd also like to keep the discussions on topic. Off-topic posts will be reviewed and may be deleted.Zillow FAQ
Please know I appreciate the answer you provided here and hope you will take my post as it was intended..to also be helpful
- Jason Campbell,, "jason44811"
- Contributions:18
A "CMA" is a Current Market Analysis on your property. This is where you local agent will access all of the homes that have sold in your neighborhood within 6 to 12 months. They then compare those sold properties to yours to give you a basic idea of how much they think they can sell your home for, and give you an idea of show long homes are on the market in your neighborhood. This does not in any way replace a full Appraisal.
You can very easily get a CMA by contacting any Real Estate Agent hooked up to your local market's MLS (Multiple Listing Service)
Most agents do not charge anything to do this for you.
Jason C Campbell
Realtor / Loan Officer
Keller Williams Realty
[contact info removed by moderator]
- fitzfalcon
- Contributions:3
thank you. i will contact you if needed in next few months.
roy
roy
- George Foster, "George Foster"
- Contributions:11
A CMA is a Comparative Market Analysis, it gives you an idea of wha homes are selling for in your neighborhood. They are free and I am available if you need one completed for you.
what is a cma? can i get one on my property?
what is cost?
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