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Comparative market analysis is a tool that helps sellers to know about how much their home is worth. It gives an overview of what a good price for the home is in the current market based on comparable properties. Different realtors have different practices as to how they present this information. CMAs can vary from a two page list to a 50-page guide. The reports vary as to how in-depth they get as well. The important things is the information that they contain.
What Data Does A Comparative Market Analysis Contain?
- Active listings of homes currently for sale
- Homes that are pending being listed
- Homes that have sold in the past 6 months
- Off market homes
- Homes that have withdrawn from the market
- Cancelled listings
Why Homes May Have Been Taken Off The Market
Homes can go on and off the market for a variety of reasons. These reasons include seller’s remorse, high pricing, requests for repairs, or the seller may have hired a completely new agent.
Looking At Comparable Sales
Comparable sales are the homes that have recently sold and are most closely related to your home. You’ll want to find the homes on the list that are most like your home. When finding comparable homes, take the following into consideration:
- Similar square footage
- Same rough age
- Comparable condition
- Similar upgrades
- Close proximity to the same neighborhoods, schools, and amenities
It’s important when you’re using these comparative reports that you find homes on the list that are very similar to your own. You don’t want to be comparing the price of an 8-room split level with an 11-room colonial. You also need to keep in mind that there are some neighborhoods that are more desirable than others. If one house is much closer to a sought after school than your home, you’ll need to take that into consideration for a price point.
Location may be one of the most valuable things about your home that you can’t really change. Buyers seek to live in a certain area of town and are willing to pay top dollar to do so. If you find that nearby homes are selling for much more or much less than homes even closer to yours, the location of your home may be a huge factor.
The comparative market analysis is just one tool that your real estate agent uses to help you price your home just right and use the right marketing tools to sell it. These reports help you to be an informed seller. Comparative market analysis reports are just one more good reason that you need a real estate agent to help you sell your home.
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After you accept an offer on your house, what happens next? Ultimately, there are several steps that will need to be completed to finalize a home sale, including:
1. Completing a Home Inspection
A home inspection may be completed only a few days after you accept a homebuyer's offer. This evaluation enables a homebuyer to conduct a thorough examination of all aspects of your home, and if necessary, rescind or renegotiate a proposal.
For home sellers, it is paramount to maintain a direct, upfront approach with homebuyers. If you are honest with homebuyers from the get-go, you may be able to avoid problems when it comes time to complete a home inspection.
With an experienced real estate agent at your disposal, you should have no trouble establishing realistic expectations for your home. Plus, your real estate agent will offer recommendations for home repairs and upgrades, ensuring that you can complete the necessary home improvement tasks before you add your residence to the real estate market.
2. Performing Home Repairs and Upgrades
If a homebuyer discovers major problems with your house during a home inspection, he or she may request home repairs or upgrades. In this scenario, you may be required to perform various home improvement tasks to finalize an agreement.
Home improvement tasks can be expensive and time-consuming, but they sometimes are necessary to ensure that you can reach the finish line of the home selling process. If you ever have concerns or questions about home repairs and upgrades, your real estate agent should be able to respond to your queries at any time.
Furthermore, if you feel like a homebuyer's home repair and upgrade requests are unwarranted, you can always decline these requests. If you choose this option, however, the homebuyer could rescind his or her offer on your home, and you may need to restart the home selling process from stage one.
On the other hand, you can always try to negotiate with a homebuyer. For example, if you offer to lower the price of your house after an inspection, you may be able to speed up the home selling cycle and avoid making a significant time investment to perform property repairs and upgrades.
3. Packing Up Your Belongings
After a homebuyer finishes an inspection and agrees to purchase your home in its current condition, you'll be able to set up a closing date. You'll also need to consider where you'll go next and plan accordingly.
Packing up your belongings is essential, and you may want to put various items in storage if you plan to live in temporary housing in the foreseeable future. In addition, you'll want to set up plans to get all of your belongings out of your residence before the closing date to ensure that the homebuyer can move into the house on schedule.
Selling a home may seem tricky, especially for those who are uncertain about how to navigate the home selling process. Luckily, your real estate agent is happy to support you in any way possible. As a result, you can work with your real estate agent and guarantee that the home selling process is completed quickly and effortlessly.
Let's face it – the process of packing up your belongings and moving them to a new home can be exhausting. However, if you prepare plenty of healthy, delicious snacks, you and your moving day team will be better equipped than ever before to conquer any challenges that come your way.
Ultimately, preparing snacks before moving day is essential. Yet determining which snacks to offer sometimes can be difficult, particularly for those who have large groups of family members and friends ready to provide moving day assistance.
Lucky for you, we're here to help you plan ahead so that you can provide your entire moving day team with outstanding snacks.
Now, let's take a look at five tips for preparing moving day snacks.
1. Get a Headcount
You know that family members and friends are happy to help you move, and you should get a headcount to understand just how much food that you'll need to keep your loved ones happy and healthy on moving day.
Remember, when it comes to moving day snacks, it usually is better to err on the side of caution. And if you end up with extra snacks after moving day concludes, you can always give these treats to family members and friends. Or, you can celebrate the completion of a successful move by enjoying your extra snacks on your own.
2. Ask People What Types of Snacks They Like
Learn what types of snacks that your family members and friends like. If you ask these loved ones about their preferred snacks several days or weeks prior to moving day, you'll have plenty of time to get snacks ready that your entire moving day team can enjoy.
3. Identify Any Dietary Restrictions
Ask friends and family members about any dietary restrictions that they may have. By doing so, you can avoid the risk of preparing snacks that certain members of your moving day team won't be able to eat.
4. Don't Forget About Drinks
Providing water and sports drinks on moving day usually is a good idea. Offering various beverages will make it easy for your family members and friends to stay hydrated while they move large, heavy boxes into your new house.
5. Be Ready to Call for Takeout
Even a well-planned morning or afternoon move can stretch late into the evening. As such, if you run out of snacks, you should be ready to call for takeout.
Make a list of takeout restaurants near your new home before moving day – you'll be glad you did. With this list, you'll be ready to call for takeout if moving day runs long and you need extra food.
Lastly, if you need additional assistance as you get ready for your move, it often pays to collaborate with a real estate agent. In addition to helping you buy or sell a home, this housing market professional can offer expert moving day tips.
Get snacks ready for moving day – use the aforementioned tips, and you should have no trouble providing your moving day team with delectable treats.