Competitive Market Analysis

Determining the market value of your home

Market value is the value of your house as seen through the eyes of a prospective buyer who has many properties to choose from. A Comprehensive Market Analysis is essential to determining value.

This market analysis has many elements:

Location is one of the most important elements.
Characteristics of the property is another.
Similar properties for sale in your area are considered.
Recent sales of comparable properties are also included.

Our goal is a price that will attract a willing and able buyer, in a reasonable time, at the best price:

The price should not exceed market value by more than 5%.
If overpriced, potential buyers may not even make offers.
Overpriced houses get ”stale” with buyers and agents quickly.
Long marketing periods can be expensive due to loss of buyer interest and “wasted” mortgage payments.

Things to keep in mind about pricing:

Realistic pricing will achieve maximum price in a reasonable time.
Profit desire is irrelevant; the market determines the price.
The cost of improvements is almost always more than their added value.
Houses that remain on the market for a long time lose interest and do not get shown.
A house that is priced right from the beginning achieves highest total net income.

Fair market value

How do you sell your home for the best price, in the shortest time, with the most favorable terms and conditions?
By pricing it right to begin with.

Major factors affecting market value

Price
Supply and demand
Seasonal markets
Mortgage rates
Condition of the property
Location, Location, Location

Methods of Evaluation

The Market Value Approach (comparable property sales) is the most common method.

The Income Approach (investment or income producing properties).

The Cost Approach (most useful on new properties when replacement values are readily determinable).

We’ll do it right!

The Comparative Market Analysis will consider all the market factors and determine a fair Market Value that will result in the highest price and the fastest sale of your house.

Our goal is listing your property right...from the beginning.