Blog :: 04-2019

What is a Comparative Market Analysis When Selling a Home?

Comparative Market Analysis

When it comes time to buy or sell a home, you have a multitude of tools to garner the best possible financial outcome for the transaction. One of those tools is a comparative market analysis. But what exactly is a CMA, and how can you execute one that covers all the bases?

What is a comparative market analysis?

Home Value Real EstateA CMA is a thorough examination of final sale prices that similar properties in the immediate area recently commanded. These properties should ideally have the same number of bedrooms and bathrooms, and be sized within 200 square feet and situated within a quarter-mile of your property. They should also be within your zip code and school district, if possible. Utilizing these comparatives can help you to accurately and attractively price your own home.

One key to an accurate analysis is taking into account recent sales, since the real-estate market is ever-changing. It’s advisable not to go back any more than six months. Another key is to make sure the prices analyzed are final sale prices, and not listing prices. That way, you’re not factoring into your analysis inflated, pie-in-the-sky numbers of what sellers hope to make.

How is a CMA different from an appraisal?

A CMA may sound similar to an appraisal, but there are some key differences. While CMAs help to determine a fair asking price, appraisals are used by banks to determine an appropriate amount of money to lend for a mortgage after a buyer makes an offer.

Because of the more official nature of appraisals, it’s extremely important they to be done correctly: A faulty appraisal can lead to mortgage fraud and lawsuits. A sub-par CMA can delay or even kill a sale, but there’s no legal hot water tied to it. As a result, appraisals are performed by those state-certified to do so. A CMA can be performed by the homeowner – but it makes sense to hire a real estate agent to do the work for you.

Why hire an agent to perform a CMA?

Asheville Homes for SaleYou could perform your own CMA, but having a real-estate agent to do it will leave you with a more comprehensive analysis. There are online tools available to homeowners – automated home value estimators, for example – but these tools just skim the surface. An agent can dig into data not readily available to you.

If you’re looking to sell (or buy) a home in Asheville, any of the agents at Mosaic Community Lifestyle Realty are fully equipped to perform a thorough CMA of your property. Their keen knowledge of Asheville’s many neighborhoods, along with their varied expertise, means you’ll get a detailed, all-encompassing CMA that only someone well-versed in the local market can provide. For more information on CMAs, or for more information on real estate in the Asheville area, please contact Mike Figura at Mike@MyMosaicRealty.com or call him anytime at (828) 337-8190.

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Perfect Proximity to Desirable Destinations Puts Asheville on the Map

Asheville NC Blue Ridge Mountains

An amazingly eclectic food scene, rich cultural offerings, and an abundance of outdoor activities – all set against a monumental Blue Ridge backdrop – make Asheville, N.C., a destination unto itself. But Asheville’s proximity to attractions outside the city also makes it the ideal locale to set up a home base. From quaint coastal towns to big-city spots, for Ashevillians, a change of scenery is only a simple drive away.

Asheville NC LocationWhere is Asheville, N.C., located?

Situated in the western part of North Carolina, Asheville is nestled in the Blue Ridge Mountains at the confluence of the Swannanoa and French Broad rivers. The county seat of Buncombe County, Asheville is the largest city in western N.C., with a population of 91,000.

Asheville has a number of neighboring communities perfect for a quick afternoon of exploration. Arden, Biltmore Forest, Black Mountain, Enka, Fairview, Montreat, Swannanoa and Weaverville are all less than a 30-minute drive from Asheville, and offer appealing activities for the entire family.

How far is Asheville from the mountains?

The Blue Ridge Mountains, part of the Appalachian Mountains range, cover most of western N.C. While the Blue Ridge Mountains stretch from Georgia to Pennsylvania, the highest peaks are found around Asheville, which is itself at 2,134 feet. Mt. Mitchell (31 miles from Asheville via the Blue Ridge Parkway) is the highest point east of the Mississippi River (at 6,684 feet).

Five entrances to the Great Smoky Mountains National Park – including Cataloochee Valley, Balsam Mountain and Big Creek – are within 70 miles of Asheville. That means you can enjoy a day trip to this national gem, with free entry.

How far is Asheville from the beach?

Asheville’s reasonable proximity to the Carolina coast means you can easily make a weekend trip to the region’s many popular beaches. Keep in mind that, because of the curve of the coastline, South Carolina beaches are closer to Asheville than North Carolina’s. Folly Beach and Isle of Palms are around a four-hour drive from Asheville, essentially a straight shot down I-26 East. Hilton Head Island is 4.5 hours away, and Myrtle Beach is just under five.

Asheville North Carolina mapHow far is Asheville from major Southern cities?

Just because you’re in a small town doesn’t mean you can’t easily get your big-city fix. Charlotte, North Carolina’s largest city and the second-largest city in the Southeast (behind Jacksonville, Fla.), is just over two hours (130 miles) away from Asheville. The city of Atlanta (pop. 486,000) is a 3.5-hour drive, which makes Georgia’s capital the perfect weekend destination. For a little Lowcountry charm, head to Charleston, S.C., just four hours away. North Carolina’s Research Triangle – Raleigh, Chapel Hill and Durham – is about four hours away as well.

If Asheville – and its proximity to attractive destinations – sounds appealing to you, and you’d like to explore real estate options, please contact Mike Figura at Mike@MyMosaicRealty.com or call him anytime at (828) 337-8190.

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Bank on a Feast at Asheville's Many Riverfront Restaurants and Breweries

Asheville Riverside Bars and Restaurants

One of the many perks of living in Asheville is the city’s access to the French Broad River. The third-oldest river on Earth, the French Broad slices through the center of Asheville, offering plenty of opportunity for fun on, and along, the famed waterway – including an abundance of riverfront dining and drink venues. Visit one of these spots to take in some tastiness as you absorb the relaxing riverside atmosphere.

Zillicoah Beer Company

Zillicoah, located in Woodfin on the eastern bank of the French Broad River, specializes in open-fermented farmhouse ales and lagers. The brewery’s open-air tasting room rotates up to 12 taps, including in-house beers and guest taps. Zillicoah’s partnership with Taqueria Muñoz means you can savor tacos, tortas and tamales along with the river views. 870 Riverside Drive.

Asheville Riverside DiningWhite Duck Taco

This restaurant’s flagship recently moved a block from its original location to the east bank of the French Broad River, with ample parking, indoor and outdoor seating, and pet-friendly waterfront access. Enjoy such fare as Banh Mi tofu, Thai peanut chicken, or mushroom, potato and romesco sauce tacos, as well as sides like green chile black beans and watermelon with mint. 388 Riverside Drive.

High Five Coffee

This outpost of High Five offers a place to enjoy your coffee overlooking the water, and has a take-out spot if you’re paddling down the river. High Five offers classically prepared espresso drinks as well as house-made syrups for creative concoctions, and a variety of brewing methods for the cup, as well as whole beans. The café serves both savory and sweet, locally prepared fare, as well as several local beers on tap. 2000 Riverside Drive, in the Mill at Riverside

Salvage Station

This riverfront bar, restaurant, concert hall, and special events venue features a relaxed outdoor setting in the River Arts District along the French Broad River.

The restaurant boasts eclectic Southern and Appalachian-inspired choices of in-house smoked meats, sandwiches, and lighter fare. Full bar, vegan/vegetarian options, late-night menu, live music almost nightly, and a family-friendly atmosphere make Salvage Station a year-round favorite. Large sweeping open areas of grass for family outings and multiple viewpoints from the river’s waterfront location provide a unique opportunity to combine music, food and fun. 466 Riverside Drive

Asheville Food and Drinks by the RiverSmoky Park Supper Club

The largest shipping container restaurant in the U.S., Smoky Park Supper Club is situated on the French Broad River on close to 2 acres of land in the River Arts District. The restaurant features seasonal, wood-fired farm-to-table fare, craft beer, cocktails and live music. Arrive by bike, boat or car for riverside dining outdoors on the lawn or deck, or inside the creatively constructed eatery. 350 Riverside Drive.

New Belgium Brewing

Nestled along the French Broad River, New Belgium features a 5,100-square-foot tasting room, as well as a massive outdoor space comprising a large lawn perfect for picnic and play, a fire pit, plenty of picnic benches and high-top seating on a large deck, and Adirondack chairs facing the river with a view of the River Arts District and Chicken Hill neighborhood. A rotating roster of food trucks, live outdoor music in warmer weather, and the array of beers New Belgium is famed for mean you can make a day of it with family and friends. Extremely kid- and dog-friendly (although dogs are not allowed inside the tasting room), New Belgium is also an ideal stop after a bike ride along the greenway. 21 Craven Street.

HomeGrown West

Enjoy locally sourced and updated American cuisine across from the French Broad River Greenway in West Asheville, near Carrier Park. Favorites include such dishes as buttermilk fried chicken and catfish po’boys, as well as sides like sautéed sesame greens and grit cakes. Dine at outdoor picnic tables behind the restaurant, or get your food to go and amble across the street to the park for a riverside picnic. 219 Amboy Road.

For information about Real Estate in Asheville, contact Mosaic Realty owner Mike Figura at Mike@MyMosaicRealty.com, or call him anytime at 828-337-8190

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As Greenways Gain Ground in Asheville, Neighborhood Accessibility Grows

Asheville Homes Near Greenways

Asheville Parks and Recreation maintains a beautiful system of greenways throughout the city, with miles more planned for completion in the next few years. This means that even if you don’t currently have a greenway near your Asheville home, you likely will soon. From paths that incorporate edible gardens, to trails dotted with playgrounds and dog parks, Asheville offers a multitude of options for immersing yourself in nature without having to stray far from your neighborhood.

Glenn’s Creek Greenway – This paved greenway extends westward from Weaver Park on Merrimon Avenue to Riverside Drive along the French Broad River.  Glenn’s Creek connects the Norwood, Montford and University neighborhoods via mostly wooded settings. The trail is on-road in portions but there are also off-road trails through Weaver Park and UNCA.   Reed Creek Greenway links into this greenway corridor.

Asheville Homes Near ParksReed Creek Greenway – This path begins at the Botanical Gardens on W.T. Weaver Boulevard, and runs parallel to Broadway Avenue along a creek, offering a slightly urban feel.

Swannanoa River Greenway – This greenway, situated next to Walmart, travels the banks of the Swannanoa River in East Asheville inside River Bend Park.  It is accessible from the shopping center parking lot.

French Broad River Greenway – This 2.8-mile bicycle and pedestrian trail in West Asheville connects Carrier Park to Hominy Creek Park, French Broad River Park, and RiverLink’s future Karen Cragnolin Park as it winds along the river, Amboy Road and Riverview Drive. French Broad River Park features a vast area of open green space with old trees, a wildflower garden, gazebo, picnic tables and grills, a dog park, an observation deck and a small playground. Carrier Park is one of Asheville's premier parks, built at a former racetrack that now serves as a velodrome for cycling. The infield has volleyball courts, playground, roller-hockey rink and basketball court. The greenway also runs past a lawn bowling court, multi-use sports field for baseball and soccer, picnic pavilion, river overlooks and wetland interpretive trails.

There are plans to close the gap between the half-mile section of greenway on New Belgium Brewing Company’s property at Craven Street and the French Broad River Park (near the dog park). Once completed, it will extend just over 1 mile. Dubbed “The Edible Mile,” this greenway will feature information on the indigenous edible plants in the area and feature volunteer-led edible gardens. Construction is slated to begin this spring.

Asheville Greenways Real EstateTown Branch Greenway – This .75-mile-long greenway will start at the Grant Southside Center on Depot Street and Livingston Street near the River Arts District and end at Phifer Street near the McDowell and Southside intersection. An important East/West connection in the greenway network, the trail runs on flat terrain along the banks of Town Branch creek. It will feature a series of interpretive signs educating visitors about the detrimental impact the razing of the Southside Community had on its historically African-American community. Construction will begin Spring 2021.

River to Ridge Greenway and Trail Network – This will be a connection of continuous greenways that encircle the downtown area with the River Arts District and French Broad River greenways, the South Slope Greenway Connector, Beaucatcher Greenway and the Urban Trail. Once completed, the network will have 10.25 miles of connected greenways and trails.

RADTIP– This project will feature a new greenway, as well as enhance the River Arts District with a safer roads, flood mitigation measures, sidewalks, separated bike lanes, public art and new gardens. The French Broad River East Bank corridor will have a 2.2-mile long section that will be completed in this construction project. The section will begin at Hill St. and Riverside Drive and end at the Amboy Road Bridge.

For more information on real estate near greenways, or anywhere in the Asheville area, please contact Mike Figura at Mike@MyMosaicRealty.com or call him anytime at (828) 337-8190.

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