|
|
|
|
|
A Common Misconception of the Comparative Market Analysis Home Evaluation
|
|
|
| |
As I summarized the data from her Macomb County home evaluation, she said, “But the house down the street just sold for $230,000!”, when I told her that the house should list at $215,000.
As I scrambled through the 16 listings sprawled across my desk—I couldn’t find the home that just sold a few doors down.
“Well, I’m not seeing it here…it probably is not comparable. I’ll run a search of home values throughout the whole neighborhood, and I’ll call you back.” I quickly hung up the phone. How could I have missed THAT. There must be….
I ran the other search engine more commonly used by the Real Estate Board in that area.
STOP
right
there.
When you shop for Cars, a high-end SUV will cost $60,000, the low-end SUV will cost $35,000.
When you buy jeans, can you get POLO for $200, you can get Levi's for about $30.
This is comparable shopping, and it is what I will do when I review your market analysis. You will get the high and low price ranges for homes that are similar to yours. They must be in the same area, within one square mile of your home. A brick ranch with a basement and 2-car garage that was built in 1975 will be compared to a brick ranch with a basement and garage, built between 1969 and 1980. If your ranch has 1200 square feet, the other ranches I compare it to will have 1100-1300 square feet. I won't compare a Sterling Heights home to a Troy home.
Comparable:
1. capable of being compared
similar enough for a fair comparison to be made
2. Similar
As good as another or each other
Similar
Analogous
Akin
Equal
Equivalent
As good as
Like
The house down the street was a
4 bedroom 2,100 square foot colonial.
The seller is selling a
3 bedroom 1,500 square foot ranch.
When you look at your Comparative Market Analysis that I have prepared, I won’t show you every house that has sold on your street. I will show you homes that have sold recently, that most closely match your own home’s style, features, and improvements. I will show you what’s available for sale, and I will show you what price range you should fall into if you want to sell your home.
If you want to get serious about selling your home in Macomb County or Oakland County, request more informative (and more serious) articles in the sellers section. Become educated, and don’t forget to call me, your full time ReMax Realtor in Southeastern Michigan.
Debby Poronto (586) 323-4345 It’s the only number you’ll need!
To provide a more detailed Comparative Market Analysis, we would be more than happy to also assess your listing in person. |
Simply enter your criteria below, and we will provide you with a speedy response. The more information given, the more accurate the evaluation. All information you provide is secure and will be kept strictly confidential. There is no obligation. Please indicate when you are thinking of selling and if you are moving within Macomb or Oakland County.
Areas I service include but are not limited to:
Macomb County Real Estate:
Macomb Township, Sterling Heights, Bruce, Chesterfield Township, New Baltimore, Shelby Township, Washington Township, Clinton Township, Saint Clair Shores, Roseville, Royal Oak, Eastpointe, Fraser, Harrison Township, Centerline, Mount Clemens, New Baltimore, Lenox, Ray Township, Richmond, Warren.
Oakland County Real Estate:
Bloomfield Hills, Rochester, Rochester Hills, Troy, Birmingham, Orion Township, Oxford, Addison Township, Madison Heights, Addison Township, Oakland Township, Auburn Hills, Pontiac, Clawson, Royal Oak, Ferndale, and Berkely
|
|
|
| |
|
|
|
Why is my contact information showing?
|
| First Name: |
First name is required.
Please do not use <, >, or HTML.
|
| Last Name: |
Last name is required.
Please do not use <, >, or HTML.
|
| * Email: |
Email is required.
Invalid Format
|
| * Phone: |
Phone is required.
Invalid Format
|
|
|
|
* Address: |
Please do not use <, >, or HTML.
Required |
|
Postal/Zip Code: |
Please do not use <, >, or HTML. |
| Year Built: |
Year built can only consist of positive 4-digit numbers |
| * Size: |
Required
Size must be a positive number without decimals
|
| Bedrooms: |
Bathrooms: |
| Has Suite: |
|
|
| Garage: |
|
| |
Type:
|
|
| Basement
Type: |
|
|
Development:
|
|
| Notes: |
Please describe any special
features and recent upgrades.
For example: age of carpet & lino, type of kitchen cabinets, property backs
park. List major renovations in recent years, etc.
|
|
Description must have less than 1000 characters.
Please do not use <, >, or HTML.
|
|
* *
Maximum of 1000 characters
|
| When are you
planning to move? |
|
|
|
|
| |
|
| * Required Field |
|
|
|
|
|
|
|