Comparative Market Analysis
A CMA is perhaps the most important data that can be obtained for determining price. It compares what a like property in a comparable area is listed for and has sold for. When Joan is representing a buyer and finds a property the buyer is interested in, she searches that neighborhood for like homes in price, square footage, and similar amenities to determine if the buyer is getting a good value for the willing offering.
Likewise, when Joan is listing a property, it is important to research a Comparative Market Analysis to establish a price that will establish a fair market price to compete with what others in the area are asking for like properties, like properties that have sold, and in what time period. Some agents will "buy" listings by indicating a much higher selling price than can be obtained except by a miracle. This is unfair to the Seller and fosters resentment after home hasn't sold or gotten offers because there is too much difference in actual prices and what the Seller is expecting to get.
She has also trained in Short Sales that will help Sellers that are upside down and need to get out from under a mortgage without hurting their credit by showing the Lender is ahead by accepting a price less than their present mortgage. It is a much better way than to go through Foreclosure.
Contact Joan Severson to find out more information about the comparative market analysis at 972.588.8588
