How does a Comparative Market Analysis Benefit Homebuyers in Columbus?
If you’re considering listing your home on the market, ensuring that it’s priced accurately is a crucial element of the home selling process. This is why so many homeowners will have their real estate agent or broker do a CMA or Comparative Market Analysis, even when you search for ‘mortgage broker near me’. In addition to this, a CMA can be beneficial to the buyer as well as the seller for two very important reasons.
First and foremost, a CMA compares your property with other similar ones in your area that have been for sale the past 3 to 6 months. Comparable homes typically share many of the same characteristics a your such as the condition of the home, property size and square footage. Furthermore, if you’re working with a good real estate agent of broker, the CMA will tell you 4 things:
• Selling price of homes in your area
• How long those homes have been listed
• The delta between the time they were listed and when they sold
• A low, medium, and high price for your home
Second, it’s important to start the home selling process with the important information needed and a CMA provides that. This will help you make well-informed decisions and manage your expectations as well.
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