• For lenders, the appraisal is a key factor in deciding how much they’ll lend to a buyer. The key components of an appraisal include: • Dwelling Type (e.g., one-story, two-story, etc.) • Features (materials, design, layout)
• Improvements Made (renovations, upgrades) • Comparable Sales (recent sales of similar homes) • Location (neighborhood, amenities, zoning) • Size and Condition of the home
Remember, while you can’t change the location of your property, you can make improvements to enhance its appeal and value. Focus on small updates, maintenance, and repairs to give your home a competitive edge in the market. Comparative Market Analysis (CMA) b s (CMA) by a Real Estate Professional This is where a skilled real estate professional can make a real difference—and it's often a free service. A Comparative Market Analysis (CMA) is a comprehensive report that provides detailed data on homes sold in your area over the last six months, along with specifics about the homes currently for sale. It’s an excellent tool for determining the best possible asking price for your home. A CMA is far more accurate than online tools that use generalized data. It takes into account the specific nuances of your neighborhood, the condition of your home, and other factors that can affect pricing. Armed with this information, your agent can help you set a realistic price that will attract buyers and help avoid overpricing. The Pricing Derivative: Create a Market Frenzy Pricing your home correctly is not just about finding a number—it’s about positioning your home in a way that attracts the most qualified buyers and creates a sense of urgency. If you price your home too high, you risk scaring off potential buyers and creating a stagnant listing. Let’s face it, without showings, you can’t get offers. And if your home sits on the market for too 8
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