Home Selling in 08505>Question Details

Jo, Home Seller in 08022

how do i do a market analysis for my own home?

Asked by Jo, 08022 Tue Nov 8, 2011

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14
Hi Jo,

I am going to disagree with some of my colleagues below. Zillow's patented Zestimate is NOT always accurate and prices of active listings from flyer boxes are NOT comparables, they are your competitors.

Having been born and raised in Burlington County (I now live in the Haddonfield area), I am intimately familiar with the Bordentown/Columbus area and would be happy to prepare a CMA for you. There is no cost for this.

The way it would work is you would email me your address so we may begin a dialogue. I will reply with a list of questions. Then we will set up a time for me to do an in-home consultation. I am available days, evenings and weekends.

A little bit about me: I am a Broker and am licensed in NJ and PA. My firm is a luxury real estate company, but we are permitted to handle ALL price ranges --- you would simply get luxury service! We have our own marketing department and it is world class.

Looking forward to hearing from you.

R. Eric Axelson, Associate Broker
Licensed in NJ and PA
Kurfiss Sotheby's International Realty
856.617.1212 mobile
axelson@kurfiss.com
Web Reference: http://kurfiss.com
1 vote Thank Flag Link Tue Nov 8, 2011
Theres no such thing. A Realtor can do a CMA or Comparitive Market Analysis, but the definition of a CMA is an estimated value provided by a Real Estate Professional, the short version anyway.
Web Reference: http://www.sjrates.com
0 votes Thank Flag Link Sun Nov 13, 2011
Hello Jo,


A Realtor can get you a Comparative Market Analysis (CMA) for you. The Realtor will compare your home to similar homes that sold in the neighborhood in last 6 months. We can sit down with you and go over all the options for you at that time.

If I can be of any assistance, please feel free to call me at 609-410-9573

Thank you,

Jody Pagliuso
0 votes Thank Flag Link Wed Nov 9, 2011
I agree with Mary - no need to do this on your own. We agents have access to all the info needed to compile a very helpful analysis for you. And asking several agents to do so will give you an opportunity to gather the info and also evaluate their knowledge and analytic skills, which will be useful down the road when and if you decide to list.

Good luck to you,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes Thank Flag Link Wed Nov 9, 2011
Just ask one (or more) locals Realtors for a complimentary market analysis. Realtors have the most comprehensive and accurate comparative sales data and there is never an obligation to hire one to sell your home....tho after their presentations you may decide to do so.
0 votes Thank Flag Link Wed Nov 9, 2011
Hi Jo. Any real estate agent (myself included) can furnish you with a Comparative Market Analysis of your home. The format and data included will vary. I regularly provide consultations and reports for my clients, and am a Certified Real Estate Pricing Specialist.
Call me, 856-575-1818
Thank you,
Robert Greenblatt
Keller Williams Realty, Cherry Hill
0 votes Thank Flag Link Wed Nov 9, 2011
Hi Jo.

The term comparative market analysis is done typically by realtors in order to determine a price point for selling a home. Data is pulled of comparable homes in the area and adjustments are made to narrow the price point. It is not an accurate science, however, it is useful and informative in determining whether to place your home on the market.

I am familiar with the Columbus area. I actually travel there quite often. If you are interested in having one done, feel free to contact me. Any realtor will be able to help with this request.

Best of Luck!
0 votes Thank Flag Link Tue Nov 8, 2011
Jo: You need to ask a realtor to give you a market analysis of your home. .
0 votes Thank Flag Link Tue Nov 8, 2011
Just hire a Realtor. You can even interview a few and get a bunch of different opinions on the value of your home. A Realtor knows the houses, knows the market trends (how much is the market up/down since you purchased) and knows what the buyers are looking for. A CMA is free. Then, if you want to try to sell by yourself, at least you have a fairly good idea of what to ask. If that doesn't work, call back one of those agents and put their expertise to work for you.
If it was an easy task, you wouldn't need us at all!
Web Reference: http://www.dianeglander.com
0 votes Thank Flag Link Tue Nov 8, 2011
Easy. You pull the comps and analyze the comps. If you're a Realtor or an appraiser and have access to your MLS, no problem.

If you don't have access to the MLS, then the simplest thing to do is to have a Realtor do a CMA (competitive market analysis) for your property.

As for Zillow and Zestimates: They're fun. They're entertaining. They're amusing. They're worthless. I'm absolutely amazed that any professional would even suggest that. Take a look at Zillow's own statistics on its likely accuracy for different areas. It'll be something like: "50% of the time we're within 10% of the real value of the property." OK. Let's say your home is worth $300,000. Half the time, the Zestimate will come back between $270,000 and $330,000. The other half of the time, it'll be outside that range. That's not very reassuring. And why don't you take a look at the questions posted on Zillow? (I do; I answer a lot there, too.) Notice that the majority of them are folks complaining about their Zestimates.

Hope that helps.
0 votes Thank Flag Link Tue Nov 8, 2011
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Contact a realtor. They will go over comparable properties in your neighborhood. This is the most accurate way to determine what a buyer will be willing to pay NOT what is market value.
0 votes Thank Flag Link Tue Nov 8, 2011
Go to Zillow and use the Zestimate they publish.
Maybe you can take a look at the 'value' displayed on the tax assessors website.
Grab the flyer from the Info Box in front of the homes for sale on your street. Adjust value based on size and assets.
Check the homes sold in the real estate section of your local newspaper.
Visit franchise websites such as ReMax.com for comparable values.
Visit Realtor.com for comparable values.
Even Bank of America will generate a number labeled Market Value.

For the life of me I can't understand why you wouldn't call the folks who do this on a daily basis and will, in the overwhelming number of instances, provide you a complimentary Comparative Market Analysis. But if actionable data is NOT required, and this is more for entertainment purposes...use the resources in the first paragraph.
0 votes Thank Flag Link Tue Nov 8, 2011
If you are thinking of refinancing you could use Zillow to get the value of your home for that purpose. If you are looking to sell your home, you will need a more in depth market analysis by a professional realtor who knows your area and who knows the market very well. That agent will be able to tell you the market value of your home in today's real estate climate. The agent will show you past sales and how they compare to your home.
0 votes Thank Flag Link Tue Nov 8, 2011
Hi,

A Realtor can get you a Comparative Market Analysis (CMA) for you. The Realtor will have to compare your home to similar homes that sold in the neighborhood in last 6 months.
0 votes Thank Flag Link Tue Nov 8, 2011
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