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Thursday, June 19, 2014

Home Seller Tips - What is a comparable market analysis?

Pricing your home for sale requires expert knowledge of the values in your neighborhood.

There are some sites on the Internet like Zillow that throw out "Zestimates" of your home's value.  But it is generally accepted by most knowledgeable real estate professionals that these estimates are very often just plain wrong.  he reason is the data is dated and therefore inaccurate.

For that reason a home seller's best friend and resource is their local knowledgeable real estate agent.

If you are thinking about selling your home contact a local real estate agent and ask for a comparative market analysis. This report, prepared by a knowledgeable professional, can serve as a reliable resource when deciding what to list your home for in your market.

What is a comparable market analysis?

Valid comparables include a couple of key characteristics.

Physical traits. Homes in close proximity to the subject property possessing similar qualities like age, square footage, materials similar such as wood frame or concrete, same bedroom count, garage size, views and the like.

Circumstances. Often called arms length transactions, these are sales where there is no special circumstances or financing. No distressed sale, no special relationships (selling to son or daughter), no liquidation quick sales, etc

Timeliness (recency). Home listed and sold within the past few months are key. The reason is simple - markets change. Valid comps reflect the current market.

If you are considering selling your Melbourne, Florida home, please give me a call and ask m for your free comparative market analysis

If you are considering buying a Viera, Florida home, lets discuss what your "ideal" Viera, Florida home may cost you.

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