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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.

Search: Asheville Real Estate

Learn More: Mosaic Realty’s Seller Services

 

Mosaic Agents Are Committed to Community Causes Around Asheville

Kathleen Cook Asheville Realtor

As long-time residents of Asheville, Mosaic Community Lifestyle Realty’s team of agents is committed to building community through more than just real estate: They make it their mission to work with and support the outstanding area organizations that advocate for the vitality and health of the local and global community.

Mosaic is proud to have given over $115,000 to more than 70 nonprofit and community organizations in 2019 . The agency’s contributions go beyond fiscal aid: Mosaic also helps with hundreds of annual volunteer hours. As a group, Mosaic supports WNCAP’s Dining Out for Life fundraiser every year by sending nine volunteers to work three shifts at Sunny Point Café. The agency also gathers annually for volunteer efforts such as environmental clean-ups and Habitat for Humanity builds.

In addition, Mosaic agents regularly volunteer their time individually, organizing and assisting community initiatives. From serving on nonprofit boards to assisting in schools and churches to aiding conservation causes, Mosaic’s agents have an important hand in the Asheville community. Here are a few ways they help:

Megan Shook – Megan volunteers at her children’s school, part of the Asheville City School system. She also works with Room in the Inn, a Homeward Bound shelter-to-home initiative that helps women experiencing homelessness. In addition, Megan regularly assists with outreach for Asheville Buncombe Youth Soccer Association. Learn more about Megan here: https://mymosaicrealty.com/realestate/agent/megan-shook/

Anthony Thomas -- Anthony has a strong history of community service and his efforts can be seen in many area organizations. He currently serves on the boards of both the YMI Cultural Center and Mountain Housing Opportunities. Additionally, he volunteers as a coach for Asheville’s YMCA. Learn more about Anthony here: https://mymosaicrealty.com/realestate/agent/anthony-thomas/

Nancy Horowitz – Every Tuesday, Nancy collects leftover food from the UNCA dining hall and delivers it to Hall Fletcher Elementary School to feed children in the after-school program MusicWorks; occasionally, she will also deliver the food to Trinity Place. Nancy’s work helps to divert hundreds of pounds of food from landfills and redirects it to programs that could really use it. Learn more about Nancy here: https://mymosaicrealty.com/realestate/agent/nancy-horowitz/

Kathleen Cook – Kathleen serves as vice president of the WNC Children’s Fund, which helps improve children’s lives through wellness, education and poverty alleviation. As VP, Kathleen helps spearhead wristband fundraisers at Asheville Tourists games; she also helps with the group’s annual golf tournament fundraiser. In addition, this year she led an extensive rebranding of the organization.

Outside of the Children’s Fund, Kathleen is creating her own nonprofit, Asheville Art Supplies for Kids. The organization raises funds and collects art supplies for Asheville City and Buncombe County classrooms, city programs, and art groups in need of supplies/ materials. Learn more about Kathleen here: https://mymosaicrealty.com/realestate/agent/kathleen-cook/

Stephanie Cochran – Stephanie leads a program every week that works with MANNA Foodbank to provide food for families in need. MANNA supplies prepackaged bags of food that are picked up by a group from Stephanie’s team and delivered to Grace Church; from there, another group from her team takes them to Ira B. Jones Elementary School. The team also supplements Jones’s afterschool program with snacks that are either donated or purchased through Grace. Learn more about Stephanie here: https://mymosaicrealty.com/realestate/agent/stephanie-cochran/

Maggie Marshall – Maggie helps to lead the Flatiron Writers Room, a hub for the Asheville literary community, offering writers’ workshops, retreats, author events, co-working space and more. Funds raised from the completely volunteer-run organization go to supporting the organization in the form of teacher honoraria, need-based class scholarships, classroom equipment and supplies, marketing, and charitable contributions to other literary organizations. Learn more about Maggie here: https://mymosaicrealty.com/realestate/agent/maggie-marshall/

For information about Real Estate in Asheville, reach out to one of our agents directly, contact us at info@MyMosaicRealty.com or call us anytime at 828-337-8190.

Search: Real Estate in Asheville

Learn More: About All Mosaic Realty Agents

 

 

 

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.

Search: Asheville Real Estate

Learn More: Mosaic Realty’s Seller Services

 

Mosaic Agents Are Committed to Community Causes Around Asheville

Kathleen Cook Asheville Realtor

As long-time residents of Asheville, Mosaic Community Lifestyle Realty’s team of agents is committed to building community through more than just real estate: They make it their mission to work with and support the outstanding area organizations that advocate for the vitality and health of the local and global community.

Mosaic is proud to have given over $115,000 to more than 70 nonprofit and community organizations in 2019 . The agency’s contributions go beyond fiscal aid: Mosaic also helps with hundreds of annual volunteer hours. As a group, Mosaic supports WNCAP’s Dining Out for Life fundraiser every year by sending nine volunteers to work three shifts at Sunny Point Café. The agency also gathers annually for volunteer efforts such as environmental clean-ups and Habitat for Humanity builds.

In addition, Mosaic agents regularly volunteer their time individually, organizing and assisting community initiatives. From serving on nonprofit boards to assisting in schools and churches to aiding conservation causes, Mosaic’s agents have an important hand in the Asheville community. Here are a few ways they help:

Megan Shook – Megan volunteers at her children’s school, part of the Asheville City School system. She also works with Room in the Inn, a Homeward Bound shelter-to-home initiative that helps women experiencing homelessness. In addition, Megan regularly assists with outreach for Asheville Buncombe Youth Soccer Association. Learn more about Megan here: https://mymosaicrealty.com/realestate/agent/megan-shook/

Anthony Thomas -- Anthony has a strong history of community service and his efforts can be seen in many area organizations. He currently serves on the boards of both the YMI Cultural Center and Mountain Housing Opportunities. Additionally, he volunteers as a coach for Asheville’s YMCA. Learn more about Anthony here: https://mymosaicrealty.com/realestate/agent/anthony-thomas/

Nancy Horowitz – Every Tuesday, Nancy collects leftover food from the UNCA dining hall and delivers it to Hall Fletcher Elementary School to feed children in the after-school program MusicWorks; occasionally, she will also deliver the food to Trinity Place. Nancy’s work helps to divert hundreds of pounds of food from landfills and redirects it to programs that could really use it. Learn more about Nancy here: https://mymosaicrealty.com/realestate/agent/nancy-horowitz/

Kathleen Cook – Kathleen serves as vice president of the WNC Children’s Fund, which helps improve children’s lives through wellness, education and poverty alleviation. As VP, Kathleen helps spearhead wristband fundraisers at Asheville Tourists games; she also helps with the group’s annual golf tournament fundraiser. In addition, this year she led an extensive rebranding of the organization.

Outside of the Children’s Fund, Kathleen is creating her own nonprofit, Asheville Art Supplies for Kids. The organization raises funds and collects art supplies for Asheville City and Buncombe County classrooms, city programs, and art groups in need of supplies/ materials. Learn more about Kathleen here: https://mymosaicrealty.com/realestate/agent/kathleen-cook/

Stephanie Cochran – Stephanie leads a program every week that works with MANNA Foodbank to provide food for families in need. MANNA supplies prepackaged bags of food that are picked up by a group from Stephanie’s team and delivered to Grace Church; from there, another group from her team takes them to Ira B. Jones Elementary School. The team also supplements Jones’s afterschool program with snacks that are either donated or purchased through Grace. Learn more about Stephanie here: https://mymosaicrealty.com/realestate/agent/stephanie-cochran/

Maggie Marshall – Maggie helps to lead the Flatiron Writers Room, a hub for the Asheville literary community, offering writers’ workshops, retreats, author events, co-working space and more. Funds raised from the completely volunteer-run organization go to supporting the organization in the form of teacher honoraria, need-based class scholarships, classroom equipment and supplies, marketing, and charitable contributions to other literary organizations. Learn more about Maggie here: https://mymosaicrealty.com/realestate/agent/maggie-marshall/

For information about Real Estate in Asheville, reach out to one of our agents directly, contact us at info@MyMosaicRealty.com or call us anytime at 828-337-8190.

Search: Real Estate in Asheville

Learn More: About All Mosaic Realty Agents