Seller Tips: The Advantages of a Comparable Market Analysis
Posted by Carey Frankel on
What is a competitive market analysis and what role does it play in the home selling process?
This question is often asked by home sellers when they put their Jacksonville home on the market. If you are working with a real estate agent, he or she will likely use a competitive market analysis, often referred to as CMA, to determine the listing price for your home.
A CMA can be a short, one or two-page document, or it can be a rather lengthy and in-depth document. The detail and size of the CMA for your Jacksonville property will largely depend on your agent. However, most CMAs detail the following information:
- Active Listings – Active listings are essentially all homes that are currently for sale in your area. The active listings…
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Sometimes when homeowners decide to sell their homes, for a variety of reasons, they do not consider how potential buyers may feel about the home’s condition. Unfortunately, the condition of your home can be a determining factor for whether or not a home buyer will make an offer on your house.
The vacillation of the stock market is being seen in the mortgage market in their rates, terms and timing.
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You've probably heard that lenders have been strengthening their guidelines requiring higher credit scores for the best rates and/or bigger down payments from borrowers.
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You might of heard that lender are changing their programs more regularly. But have you heard of buyers going to the closing table and the lender no longer keeping to the terms that were offered? I am being told that it is happening.
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In addition, I am just being told that the rates the lenders are charging can change up to 4 times a day! So if your mortgage broker calls you with a great rate and you don't lock in ... you can pretty much be assured that the…