There are many great Bucks County area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (215) 519-1399 for a FREE home buying or selling consultation to answer any of your real estate questions.
Accurate Pricing: Using the CMA to Create Competition for Your Home!
I was speaking with a potential seller a few days ago and they asked me about the “CMA” that they’ve heard real estate agents talking about. CMA stands for “Comparative Market Analysis” and it is a tool that real estate agents use to determine the value of your house. This is a fact-based analysis that compares every aspect of your house to all active, pending and sold homes on the market. This also includes size, location and amenities; do you have a finished basement or have you updated your kitchen and bathrooms? This factual information allows us to determine the best possible market price for your home to ensure competition and strong offers.
When I do a CMA, I look at active, pending and recently closed homes. However, I look more closely at the active homes - buyers that are looking at your house can’t buy what has already sold. In shaping the right price for your home, remember that a decision in real estate is filled with emotion. Not only is it based on facts, there are also subjective factors that play into the overall equation. This could things like perception of light and the location of the home.
Be sure to keep in mind that realtors have already walked through most of the houses that are in the CMA. Also with the immergence of technology, sellers have access to a vast amount of information and they typically know what homes are selling for in their neighborhood. Although they probably know what the prices of the active listings are, they still have not walked through the home. This is a large distinction between a real estate agent and sellers! This allows me to provide better information to my clients in terms of correct pricing.
If you are curious about the value of your home, please give me a call and I would be happy to provide a CMA for your home. Thanks and have a great day!
