If you are searching for homes in the Greensboro, High Point, or Thomasville area give me a call today! I can help you find new properties, browse photos of homes, get open house information, and research neighborhoods to find exactly what you are looking for.
Looking to sell? I can provide you a comparative market analysis, also referred to as a CMA, which will provide you the value of your home. With the use of various tools, as well as hosting open houses, we will provide maximum exposure of your home to potential buyers and turn that FOR SALE sign into SOLD!
OUR MISSION STATEMENT:
At Hepler Realty our philosophy is simple: clients come first. We pledge to be in constant communication with our clients, keeping them fully informed throughout the entire buying or selling process. We believe that if you’re not left with an amazing experience, we haven’t done our job. We don’t measure success through achievements or awards, but through the satisfaction of our clients.
ABOUT JAMIE DICKSON:
Jamie Dickson specializes in VA loans, serving the greater Triad area. She sits on the Community Services Committee with the High Point Regional Association of REALTORS and truly loves helping out in the community she serves. Give her a call today and let your concern be her priority! Follow Jamie on: Facebook: www.facebook.com/jamiedicksonheplerrealty LinkedIn: http://www.linkedin.com/in/jamie-dickson-9499234a/ Instagram: http://instagram jamie hepler realty Twitter: http://Twitter: https://twitter.com/JamieD8675309 Here is a quick guide into the lending process: https://www.youtube.com/watch?v=Np9A0SwbkFQ
What Is A Comparative Market Analysis (CMA)?
January 29, 2017 | Jamie Dickson
As a REALTOR the term CMA is something I hear on a very consistent basis. I must admit that sometimes it’s easy for me to forget most people aren’t aware of what on earth that means. CMA stands for Comparative Market Analysis. The purpose of obtaining a CMA is to determine the current market value of a property. This report is generally done for a seller to help establish a fair asking price for their home. It is also quite a beneficial tool for a buyer to utilize. A buyer can use the information from a CMA when deciding on how much to offer on a home they are interested in. It is very important to understand that a CMA is not the same thing as an appraisal, which is done by a licensed appraiser.
The Rundown of a CMA
By now, if I haven’t put you to sleep yet, you may be saying “Okay, Jamie, just tell me what’s involved in completing a CMA already!” Gladly. Here’s the breakdown, folks, the key thing in a good CMA is finding properties that closely resemble your subject property in location, size, age, and condition. Adjustments in price are made when properties have different characteristics. For example, if you are using a comparable property that has a fireplace, but the subject property does not have one then a real estate professional will need to adjust accordingly. This process can be more of an art than an exact science, as the adjustment will depend on the local market. The number of homes in the CMA will vary by agent, but personally I go with 10 homes to compare to my subject property. I will pull two homes in each of the following categories:
Active Listings: These are homes that are currently on the market and can be considered your competition. One thing to keep in mind is that prices on active homes are set by a seller, who can ask any price they want, so it may not genuinely reflect the subject property’s fair market value.
Pending Listings: These are homes that have received and accepted an offer to purchase. When a home is pending the purchase price won’t be available until the home has officially closed. This can be important because in many cases the purchase price ends up being different than the original asking price. What’s useful about these listings is that it is an indicator that properties selling around you, but you will have to wait to find out how much they are selling for.
Closed Listings: These are homes that have sold within the past three to six months. It’s a good idea to really pay attention to these comparables, as they will be essential in determining fair market value of the subject property. In large part, appraisers will use these neighborhood home sales when assessing value.
Withdrawn Listings: These are homes that have been taken off the market. This can happen for a number of reasons. A seller may have a situation arise that forces them to stay in their home and not sell. Another reason could be that the seller has received no offers over an extended period of time, which leaves them feeling dejected and they withdraw their property. In many of these instances homes are priced too high, which causes them to sit on the market for long periods of time; however, it could also be that sellers are unwilling to make repairs that a buyer has requested, causing the buyer to walk away.
Expired Listings: These are homes where the allotted time frame of a contract between a listing firm and a seller has lapsed. Expired listings occur predominantly due to unrealistic asking prices. These comparables are good to show a seller in an effort to reinforce how too high of a listing price can leave your home sitting on the market for months. Conversely, the problem could be that a home was not marketed aggressively enough and wasn’t exposed to enough potential buyers. Additionally, the home may be in need of repairs that a seller is unwilling to pay for. Some buyers do not want to foot that bill either and will pass on a home like this.
Upon finding several comparable properties, a real estate professional will make the necessary adjustments and compile a thorough report to present to a buyer or seller. Depending on how detailed the individual agent is, the report can be 30 or more pages.
The moral of the story is that a comparative market analysis is an invaluable report for buyers and sellers alike. Being informed can be vital when you are playing the game of negotiation. Having a real estate professional by your side is critical in understanding and applying the information enclosed in your personalized CMA.
Are you in the Greensboro, High Point, or Thomasville area and want your free CMA? Good news, I’m just a call or email away! You can visit me atwww.triadhomesbyjamie.com
Just one of my great reviews: I wanted to take an opportunity to truly “spread the word” about the extraordinary professionalism of Jamie Dickson from Hepler Realty. She went above and beyond from the my very first out-of-state property inquiry all the way through a complicated closing process. Jamie’s communication skills and proactive approach kept our lenders on point when it appeared the deal would stagnate and allowed me to keep a semblance of sanity. I would highly recommend her services for anyone considering a real estate transaction and feel blessed that she responded to my initial email 🙂 Gloria Greenbaum