Market Conditions in 33991>Question Details

Sheri, Home Buyer in 33950

How can I get a CMA with a BPO on my vacant lot in Florida?

Asked by Sheri, 33950 Thu Sep 9, 2010

Help the community by answering this question:

Answers

16
Hello Sam,

A BPO and CMA are not the same thing, I've done thousands of both and they are not. I'm neutral here, not trying to get your business. If you are wanting to list your land or get an idea on it, have a local realtor do a CMA. BPOs are more generic, and if you order one (several companies let people order BPOs through their website, just google order a BPO), you don't know who will be completing the order, or what they will or will not be allowed to adjust for. Vacant lot BPOs are terrible because the forms the agent fills out allows for minimal adjusting, and sometimes the agent is required to give 90,120,180 and 180+ day values. In a CMA the agent can adjust for anything and everything that requires adjusting, and the value you get is current. Often you can get a CMA for free too, so that doesn't hurt. Good luck with the lot in Florida.
Web Reference: http://www.bpoteaching.com
1 vote Thank Flag Link Tue Sep 14, 2010
Sam,
You have a good bunch here. I have done countless CMA and BPO's and yes they are not the same.The result may however be very similar if you use the same rules.
Pick any one of us and good luck. I have been working in Cape Coral for 10 years. One thing: I hope you bought it before 2004!
call me any time,

Lloyd Nichols

LLoyd Nichols
Sandals Realty
cell: 239-810-2980
office: 239-463-5217
0 votes Thank Flag Link Mon Dec 13, 2010
You have plenty of good people below to help you. Pick one of them and you are good to go!
0 votes Thank Flag Link Sat Sep 11, 2010
Hi Sam,
I would be happy to help!

Have a great night,
Nancy

Nancy Doyle,
Realtor, SFR
239-209-2237
nancy.doyle1@comcast.net
http://www.nancyd.listingbook.com
0 votes Thank Flag Link Thu Sep 9, 2010
The Trulia community can assist if you post the address or strap number of your lot.
0 votes Thank Flag Link Thu Sep 9, 2010
Mohsen, I agree but i need 25 characters to do so
0 votes Thank Flag Link Thu Sep 9, 2010
I agree buddy, but that's the market today. I hope these short sales and foreclosures leave our market soon and we go back to regular RE business.
0 votes Thank Flag Link Thu Sep 9, 2010
I can have a CMA for you very quickly. We specialize in vacant land in Cape Coral, Florida. We have buyers available for an immediate cash out, or we can come up with a marketing plan and market your land to buyers from all over the world. If have no intention of selling, I would still be happy to help you determine value! There is a form you can use to send me the information that can be accessed using the link below.
0 votes Thank Flag Link Thu Sep 9, 2010
or Mohsen - I do about 30 BPO a week So I love other BPO people - its a tough life
0 votes Thank Flag Link Thu Sep 9, 2010
Hello Sam,
I am a local Realtor and I do BPOs for banks. Email me the address of your lot and I'll do it for you.
0 votes Thank Flag Link Thu Sep 9, 2010
Or Roy he has a good handle on things as well.
0 votes Thank Flag Link Thu Sep 9, 2010
Sam call the Stone woman as she is a local

it is written in Stone is it not?
0 votes Thank Flag Link Thu Sep 9, 2010
Hi Sam,
John is Right; however, it is important to understand that a BPO (brokers price opinion) is a CMA that banks use to determine the worth of a property that they are looking as selling, predominantly on short sales. A CMA from a local realtor may have some different spins on it as a local realtor will understand the values of certain things in your CMA.

At the end of the day, a CMA or BPO are going to give you an opinion of Value based on imperical evidence; but a BPO is what the bank is going to make thier decisions from, unfortunately, it was a fancy way to cut out the middleman, the appraiser :O)

As John said, get an experienced LOCAL realtor to do a CMA, BPO's are not always done by local brokers; however, that too has started to change.
0 votes Thank Flag Link Thu Sep 9, 2010
Hi Sam:
As Realtors we have access to solds that we use as comparables to assess market value. We do this by using a CMA methodology.. A BPO is pretty much the same thing..
What is it that you want? To know how much you could sell your lot for?
I can help.. Just call me at 239-541-2535
\Ann Stone
Web Reference: http://www.pro-gulf.com
0 votes Thank Flag Link Thu Sep 9, 2010
woops should have added you need a local Realtor
0 votes Thank Flag Link Thu Sep 9, 2010
Sam most any good REALTOR can do you a CMA - BPO is the same thing
0 votes Thank Flag Link Thu Sep 9, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer