CMAs When you hear your Realtor™
refer to ‘the comps,’ you probably think of them as the printouts of the Denver
real estate listings which are comparable to your own property. More
comprehensively, a CMA, or Comparative Market Analysis, also includes a broad
look at pending and completed sales, as well as withdrawn listings. That
analysis will also include and account for differentiating factors, such as
upgrades you have made to the home, location, and other features that make your
home unique. Market
Conditions Market conditions will also play a strong role in
developing a real estate listing price that’s likely to attract serious buyers.
If conditions indicate a seller’s market, it means that there aren’t many homes
available for sale. Contrarily, if it is a buyer’s market, recent trends show
that numerous homes are available for sale, but buyers are in short supply.
Other factors can come into play. If an area has become economically depressed,
for instance, pricing a home on the higher end of the standard is more likely
to result in a higher DOM (days on market).
Appraisals Getting an appraisal is helpful in nailing down an
acceptable real estate listing price. The extra expense provides a highly
educated estimate for what today’s market will bear (and also valuable preparation
for you are likely to hear when you enter into serious negotiations). It’s also
important to remember that the bank’s loan approval will hinge on whether or
not the selling price is in excess of the appraised value of the home. One of the major benefits of working with a Castle RockCentennial
when developing the real estate listing price for your home is the degree of
expertise we bring to the process of setting an advantageous listing price. My
own years of experience and knowledge of the Castle RockCentennial
Village market is invaluable when it comes to setting a fair
price that spurs buyers to act quickly.
Looking to sell? Call me today! Curious what your home is worth? Use our FREE online
valuation tool Click Here!
Jason Peck is a Broker
Associate at Keller Williams. He has been recognized locally and nationally as
in expert in real estate. Locally he is 6th in Denver Metro home sales out
of 5,000 agents and has been recognized by the Wall Street Journal and Real Trends
as one of the top selling agents in America. He is co-author of the
National Best Selling Book, “The New Rise in Real Estate”. For more information
feel free to contact
himor call 720-446-6301.
Recognized as a top selling team in Denver Metro area. Nationally recognized for homes sold by the Wall Street Journal, Real Trends and Top 5 agent by RIS Media. Our goal is simple and that is to exceed our client's expectations by providing professional service, expert advice and exceptional results.
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"We worked with Karen Venier for a relatively short time for a good reason: our home sold at full price within hours of hitting the market! While it’s true that the Denver housing market is “hot,” credit for the speed and ease of our transaction belongs to Karen. She was great to work with, giving us perfect advice about readying our home for sale and then expertly guiding us from offer to close. Along the way, we came to appreciate Karen for her skillful blend of professionalism and personal touches – like dropping off our favorite beverages during a particularly stressful time in our move or shoveling our driveway in subzero temps after we’d left the state (way beyond the call of duty!). Now that we’ve relocated to Wisconsin, we keep saying that we wish Karen could be our buyer’s agent here. Since that’s not possible, we’ll shout her name loudly to whoever might be looking for a home in the Denver area.
Thanks for the great work, Karen!