Home Buying in Houston>Question Details

Arkla, Home Buyer in Atlanta, GA

METRO HOUSTON HOME VALUES/CMA's

Asked by Arkla, Atlanta, GA Sun Jun 23, 2013

HOW ARE AGENTS LISTING PROPERTIES THAT ARE WORTH $90K-120k MAX FOR $190K , WITH NO CMA WITHIN A 3-5mi RADIUS? ..I SEEN SOME PROPERTIES OF INTEREST AND HAD CHECKED THE HISTORY ON PROPERTIES. IS THAT THE REASON IT'S THEY'VE BEEN SITTING ON MARKET, AUCTION, & DIFFERENT AGENTS FOR OVER A YR? ANY COMMENTS ON THIS...

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5
Arkla,

Your not looking at a CMA the way a Realtor would be looking at this.

We don't look 5 miles out! There are tons of comparable homes to review...likely within the same community. We also like to compare apples to apples. What I mean is the same size, age, amenities, etc with the home for sale. Within 5 miles you can have $90,000 up to $3 million sale prices!

Do all Realtors do a CMA when they list a home? Not a great idea, but some might not. Some let the sellers set the price and other terms without giving advise. This is not how I would operate, but it would possible give my buyers and I an advantage when we prepare an offer as we can provide concrete information and show the errors in their ways.

When you see properties on the market for a year or longer, it is typically overpriced (but keep in mind there could be other issues!). OK, so what do you do? Do you make an offer or do you move on to another home? If the sellers wants X price, but can't get it...that is their problem and you move on to a property that is priced fairly.

When making an offer on ANY property, get with a Realtor that has worked the area and will give you honest and straight forward advise on how to structure your offer. My clients don't always agree with me, but I have been doing this full time for over 20 years...they have not. So who's opinion would you listen to? Good luck with you home search! Let us know if we can assist you!

Mark McNitt
m 832-567-4357
Bernstein Realty, Inc.
1 vote Thank Flag Link Sun Jun 23, 2013
The problem with your search is location. You need to understand that in the Houston market a few miles can make a huge difference in the price. Your best bet it to work with and agent that can determine value for you and help you make a good decision. Let me know if I can help.


Saul Carrillo
832-527-2268 saul.carrillo@carringtonres.com
3333 Alabama, Suite 125
Houston, Tx 77098
License No. 0573768 Atlantic & Pacific Real Estate (US), LLC
http://www.CarringtonRealEstate.com
0 votes Thank Flag Link Mon Jun 24, 2013
Do you know the closing price yet? The market is furious.


Joe Cano - Realtor/Locator
(281)785-5132
0 votes Thank Flag Link Sun Jun 23, 2013
The Market right now is all over the place... If you want to send me a list of properties of interest I can run comps. for you. Also sometimes sellers can be very proud of their listing and hold out. I've lost listings to other agents due to me telling the truth about their home value and not what they "wanted to hear" ....

Feel free to contact me if you need more help...

Best of luck,

Kevin Sechelski
Realtor
832.545.5503
Contact@HouseHuntingHouston.com
0 votes Thank Flag Link Sun Jun 23, 2013
Well varies by property...some times an owner will say I'll wait on my price as long as it takes, and that what happens.

Worth is subjective, if there is no CMA with a 3-5 radius in Houston???? That would be a very unique property if there was nothing to compare it to inside that Radius.

What area are you looking at anyway???

And why the all caps?
0 votes Thank Flag Link Sun Jun 23, 2013
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