What's the Value of Your Home in Today's Market?
You know how much you paid for your condo, and how much you still owe on it. But how much could you actually sell it for in today's market? Let me prepare a complimentary CMA - a Comparative Market Analysis - for you!
A CMA compares the features - and the value - of properties that are similar to yours, in your immediate area. In order to make sure you're getting an "apples to apples" comparison, we will look at homes comparable to yours in:
- location;
- square footage;
- year of construction;
- condition;
- number of bedrooms and baths;
- tangible amenities such as a swimming pool, health club facilities, party room, doormen, or garage, and;
- intangible amenities such as a nice view or safe neighborhood.
We will then look at how much the similar properties were listed for and what they sold at. Also, we will note how many days they were on the market before they sold, and if they were previously listed, pulled off the market and then re-listed.
The CMA, together with the principal balances on the various loans attached to the home, enables you to estimate the equity you have in your own condominium, and gives you an idea of what you can afford to spend on your next property.
Before you make the decision to put your unit up for sale, you'll want to make sure it's listed for fair market value, especially when compared to other similar properties. Only with a CMA, and the benefit of an experienced real estate sales representative, can you receive the correct value for your home in today's market. Of course, if you're looking to purchase a property in a specific area, you will also be interested in getting a full overview of what's available, and at what cost, so please call for this interesting comparison, too.
We are always available to help you with all of your Calgary Real Estate needs.
Joe Samson, a Calgary REALTOR ® who has been helping clients to achieve their goals in the Calgary real estate market for many years now. Please visit some of his other web pages such as Evergreen real estate.
To Your Real Estate Success!
Print
ShareBe the first to comment on this blog entry!
Leave a Comment
The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The Terms of Use Agreement shall not impose a financial obligation on the Registrant or create any representation agreement between the Registrant and the Participant.
All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Disclaimer: Information herein deemed reliable but not guaranteed by the CREB and EREB.
Last updated on: 2012-05-17 00:22:34
Blog Menu
Archives
My Account
-
- Whether you're a buyer or a seller, Joe gives you 100% service and professionalism every time. Joe doesn't deal in fairy tales or pipe dreams - he gives you the straight facts based on his detailed analysis and market reality.
- John Estey
