Thinking of Selling? Get a CMA!

Happy 2014!   If you’re thinking of selling your house but have been waiting for the real estate market to improve, the time may indeed be now!  With a low inventory of resale homes and comparatively low interest rates still available, you won’t want to miss the spring 2014 market.  In our area, it’s poised to be an excellent one for sellers!  Last year’s spring market got off to an early start and all indicators point to more of the same for 2014.   Now is the time to gather your data and make an informed decision.

One of the most important ways to figure out whether the timing is right for you to sell is by having a Comparative Market Analysis (CMA) done on your home!  A comprehensive CMA is the best way to determine what your home is worth in today’s market.  The CMA is an informational package created by a real estate agent and it’s made by comparing your home’s unique features to other similar homes that are currently for sale, those under agreement and homes that have sold in the last 6 months.   By seeing what people are actually buying and what prices are being paid for similar homes, a realtor can better determine A) what price to list your home at and B) what price you could realistically expect to receive.   The CMA will give you detailed listing sheets on these other homes so that you can see how your property stacks up.   The realtor will select properties that are of similar size (square feet, number of rooms, bedrooms & baths, etc.) and location.  A local realtor who knows your town inside out and who ideally has seen these other homes in person, can offer you invaluable information about their interior condition and what other factors went into determining their prices.

Besides pricing info, a good CMA should also include information on how the realtor would market your home to prospective buyers.  Mendosa-Balboni & Associates includes detailed information on our advertising and marketing plans, the social media and online outlets we use to further promote our listings and other relevant ways we get exposure through our network of realtors both near and far.   We review how to get your home ready for sale and how to make it look best for the professional photography needed.   If appropriate, we also discuss home staging options so your home will show in the best possible light and appeal to the broadest range of potential buyers.   Finally, we review our listing contract, which outlines our responsibilities and the length of the sales agreement and sales fees.

Once you have the financial questions answered and understand the steps to list your home, you’ll know whether now is the best time for you to sell!  And, by meeting realtors personally during the CMA process, you can select someone you trust and want on your team during this important transaction.

If you think a complimentary CMA might be helpful to you right now, please contact us to get started!  www.mendosabalboni.com, 978-697-5400, Mendosa-Balboni & Associates, 199 Sudbury Road, Concord MA 01742