Q.  What is a CMA?

A.  CMA is short for Comparative Market Analysis.  The CMA helps illustrate market value using properties that match as much as possible to your property’s characteristics. The purpose is to determine a fair market value for your property and to help you decide the proper listing price. In evaluating your property I use many of the same tools that appraisers use provided from the local multiple listing service but rather than providing you an appraised value of the property I provide a market price range that supports as much as possible the market value of your property.

1. Price it right. Set a price at the lower end of your property’s realistic price range.
2. Get your house market-ready for at least two weeks before you begin showing it.
3. Be flexible about showings. It’s often disruptive to have a house ready to show on the spur of the moment, but the more often someone can see your home, the sooner you’ll find a buyer and get an offer.
4. Be ready for the offers. Decide in advance what price and terms you’ll find acceptable.
5. Be willing to counter if necessary.  I always feel it is better to come to the table even if the offer seems insulting.  You can always counter back to the asking price or possibly meet the buyer in the middle.  Sometimes sellers need to be willing to detach themselves from the property if they want it to sell, especially when selling in a buyer’s market.
6. Don’t refuse to drop the price. If your home has been on the market for more than 30 days without an offer, be prepared to lower your asking price. The phone will ring and the property will sell when it is priced at market value.

1. Get estimates from reliable repairpersons on items that need to be replaced soon, a roof or worn carpeting, for example. In this way, buyers will have a better sense of how much these needed repairs will affect their costs.  If you can do some of the repairs before selling is a plus.

2. Have a termite inspection to prove to buyers that the property is not infested. Lenders will require that pest repairs be done before lending so if you want to attract more qualified buyers it is best to have a clear pest report. Ask me for a list of local termite inspection companies.

3. Get a pre-sale home inspection so you’ll be able to make repairs before buyers become concerned and cancel a contract. Ask me for a list of home inspectors.

4. Gather together owner’s manuals, warranties and guarantees on the furnace, appliances, and other items that will remain with the property.  

5. List material facts that you will need to disclose to a buyer. Take the time to be sure that you don’t forget problems, however minor, that might create liability for you after the sale.

6. Make the property ready to show.  Keep the place clean, Remove trash and debris, spruce up the inside and outside. First impressions do mean a lot to a buyer and the sharper image may really help you get you a better price.  This does not mean spending a fortune doing property upgrades.  Most of what you can do to improve curb appeal are simple and should not cost a lot.  Even if you are selling a fixer-upper presenting a neat and clean yard will make a difference to a buyer.

7. Hold a Yard Sale – Use a yard sale to reduce the clutter in your home and on the property and get rid of items you don’t want to move.

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