Determining Your Home's Price
Comparative Market Analysis (CMA)
The probability of receiving an acceptable offer on your property and completing a sale diminishes significantly when your asking price is higher than the current market value. To keep your asking price within the current market value range, we analyze all the factors that affect your property's value in today's real estate market. The factors include:
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Your property - its strongest
selling points:
Location
Condition of
property
Size of home
Size of
homesite
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Buyer demand |
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Seller motivation |
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Financing availability and
interest rates |
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The comparables - recent
selling prices of comparable homes in your neighborhood |
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The competition - the asking
prices of other homes for sale in your area |
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The expired listings - homes
offered for sale that did not sell |
The
asking price of your property should be based on the information the
marketplace provides and your comfort level. After searching all
factors involved, your Prudential Serls Prime Properties real estate
professional will suggest the price range that will be competitive
and spark maximum buyer activity. With this information, you can
make an informed decision about your asking price.
What
factors influence the pricing of your home?
The real estate
market is constantly fluctuating, so pricing is not an exact
science. Rather, it's a reasonable figure derived from a number of
different components, such as:
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The status of the current real
estate market. |
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The expertise and market
knowledge of your real estate representative. |
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Hard facts such as lot size,
square footage and condition of your home. |
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Desirability factors,
including location, special amenities and property
attributes. |
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Selling and listing prices of
comparable homes. |
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A sophisticated real estate
marketing plan. |
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Your level of
motivation. |
It's important to note that
the following conditions do not affect your home's price:
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The profit you wish to make
from the sale. |
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The amount of money you've
spent on improvements. |
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What other sources, such as
friends and appraisers, have told you it's worth. |
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What you originally paid for
the home. |