CMA Comparative Market Analysis For Katy Flat Fee Discounted Listing Analysis
The CMA is the MOST IMPORTANT STEP to getting your Katy Flat Fee Discounted Listing on the market ready to sell. You already have a fair idea about your homes worth and what you think an asking price should probably be, however you probably didnt consider these really important points:
If you live in a Katy subdivision over 10 years old, your neighbors may have already made capital improvements that your not aware of. Consequently, those improvements definitely reflect asking prices above and beyond the average sales price for that market area. Above all, if you live in a subdivision over 20 years old, than capital improvements, plus cosmetic remodeling updates to a home come into play. Therefore, not every home is easily comparable with just location, square footage and bed/baths. Consequently, that’s why it is important to have Silver Key pepare a CMA to ensure the most relevant data is gathered. Furthurmore you will have the benefit of having an expert review and explain the information.
Let Silver Key guide you through the area market trends and specific MLS area comps. Above all, to compare and contrast that specific property information to your current home in order to generate a reasonable market asking price. Finally, the CMA or a BROKERS PRICE OPINION are critical to getting your home priced correctly and sold in a reasonable amount of time.
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When the CMA is completed and a meeting is set to review, some of the data will disclose to you four different property types:
- Active listings. This property type shows you how many other homes in the area are for sale, as well as their price, how large the homes are, how many days they have been on the market, etc. The prices of active listings may not accurately reflect the true home market but can tell you what other buyers have seen.
- Pending listings. This property type are homes and properties that were on the market ACTIVE for sale but have an offer pending and may be back on the ACTIVE market if the sale does not go through. This information is also important because it tells you what market price was accepted.
- Sold listings. This property type is the most important piece of data, sold listings are specific evidence of what area homes will sold for, how long it took to sell them, plus additional information.
- Off-market listings. This property type were for sale but have been taken off the market permanently for any reason from foreclosure, seller never receiving offers they would consider, to owners changing their minds.
Just about all data on closed home sales is often hidden from the public and can only be accessed by a Texas licensed broker or agent.