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Solana Beach realtors Dean Rooke and Paul Stokes of Harcourts JADE Properties are offering Solana Beach home owners an opportunity to request a free comparative market analysis (CMA). A comparative market analysis is an examination of the prices at which similar properties in the same area recently sold. A CMA is generally used to establish a price range, not an exact value.
Real estate agents perform a CMA for their clients to help them determine a price to list when selling a home or a price to offer when buying a home. Solana Beach and area home owners can request the free market evaluation of their home on the company’s website: http://www.sb92075.com/what-is-your-home-worth.
Common comparable factors to determine the home’s value include:
- Physical Comparability: This is the most common factor and includes square footage, condition, quality, age, upgrades, number of bedrooms, yard size, community amenties and more. – Market Conditions: This is often referred to as the time adjustment and accounts for changing prices over time. – Financing Conditions: Was the comparable transaction influenced by non-market financing terms, whether favorable or unfavorable? – Conditions of the Sale: Did the comparable recently transact under conditions, such as distress sale, estate settlement, bankruptcy, which are consistent with the standard of value under which the appraisal is being performed? – Location: Are the properties being compared and the subject property influenced by the same locational characteristics, such as views, noise, schools. – Adjustments: A professional real estate agent should make manual adjustments for factors that can not be determined by MLS data alone.
“The Solana Beach real estate market is moving fast right now,” said Stokes. “The CMA will help potential home sellers understand the local market and get an idea of what their home is worth. It only takes a few minutes and offers true value.” Stokes added that a CMA is also a useful tool for home buyers to help gauge whether a home’s sale price is reasonable.
A quality CMA should compare the subject home against comparable data in the MLS for active listings (houses currently for sale), pending listings (homes that are under contract but have not closed and changed ownership), closed listings (homes that have sold and closed in the preceding six month) and expired listings (properties that did not sell during the term of the listing agreement).
To learn more about the Solana Beach real estate market or to request a free market evaluation visit http://www.sb92075.com.
Release ID: 79540