A Comparative Market Analysis (CMA) is essential to determine the value of residential property. Location and characteristics of the property are the key element in determining value. Therefore, the basis for valuation is similar properties in your area. Here are some things that factors that influence the value of your home:
- Your terms offered as a seller
- Your motivation as a seller
- Market Conditions – Interest Rates, Financing, Buyer Demand, State Economy
- Exposure – Broker Representation, Marketing, Ease of Showing. Houses that remain on the market for a long time do not get shown.
- Comparable Properties – Active / Current on the Market, Sold / Recent Sales. The market determines the price.
- Property Features – Structural Integrity, Architectural Style, Floor Plan. The cost of improvements are almost always more than the added value.
- Realistic pricing = Maximum price in a Reasonable time
A house that is priced right from the beginning typically achieves the highest proceeds.
To learn more about the CENTURY 21 Marketing Plan for your home: https://c21prolink.com/residential/home-selling-tip-advice/marketing-plan/