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Scottsdale Real Estate, Phoenix Real Estate, Scottsdale Homes for Sale, Scottsdale Az Real Estate Listings, Scottsdale Az Homes
CMA - what does it compare?Your CMA The CMA compares the recent sales of identical or as close as identical properties in your neighborhood. The sales must be within the last 6 months. If there have not been 3 of more sales in your immediate neighborhood/subdivision, the Realtor will expand the search to include the closest subdivision with similar homes to yours. Sellers should be aware of the parameters used in the Market Analysis. Make sure the comparable properties accurately represent the subject property. The current market status of the various properties to be considered in generating a CMS are defined below. ACTIVE are those properties that are currently available and not yet sold. These properties are your competition. They are the properties that buyers are looking at in order to determine their next purchase. Buyers will be comparing your property to the other available properties in order to determine what suits them and what is perceived as a good value for them. PENDING are the properties that have accepted offers. A willing buyer and a willing seller have agreed to price and terms. If you are currently listed, these are the properties that buyers chose over your property due to price, terms, condition etc. The price listed is the asking price at the time of the agreement, not the price and terms they agreed to. The agreed price and terms will not be disclosed until the escrow has closed. This protects the seller in the event the property does not close and the seller has to start marketing again. The sellers current asking price is not damaged is they previously accepted a lower price. SOLD are properties which have closed escrow, normally within the last 6 months. Six months is the generally agreed to term within which to look at the past. Appraisers generally do not look at properties that have closed prior when making their assessment of the current market appraisal of price. If you price your home too much above these prices and you succeed in getting an offer at that price, the property may not appraise and the buyer will not be approved for his loan. You will have lost valuable marketing time etc. EXPIRED are marketing or pricing FAILURES. These properties have failed to generate a satisfactory offer for the seller due to a poor marketing and promotion program or because of the price. In price are included condition, location, accessibility and several other features because price cures all of the above. A common misconception is that the agent sets the price. This is not true, the agent shows the seller what the market condition is and usually recommends a price, the seller ultimately decides where to price the property. At that point the agent has to decide if the price is reasonable and whether to take on the job of marketing of the property. Be wary of an agent who suggests a price significantly higher than the comparables support. We are professional full time / full service Realtors. Contact us to assist you with the sale of your home!!  
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Phone
E-Mail Us
(480) 948-0550 Mobile (602) 402-8594 Toll Free (866) 464-2140 John Hall & Associates
9366 E. Raintree Dr. #101
Scottsdale, AZ 85260
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