Comparative Market Analysis

Preparing to Sell Your Home: A Timeline Made Simple

Staging

Making a decision to list your home is a big one.  Likely, your house is your largest asset and chock full of memories and life.  Give yourself adequate time to prepare, and keep your patience and sense of humor on hand.  Follow this two month timeline to prepare yourself and your home for the big move!

Two Months Before Listing Your Home for Sale:

Painting Interior

  • Survey the condition of your property as a potential buyer would. Notice things that may look poorly maintained or in need of repair and make a list.
  • Begin tackling that list of small repairs such as leaky faucets, drywall that needs patching, and gutters that may need repairing.
  • Consider some small aesthetic upgrades that need doing anyway, are neutral in style, and can provide a good return on investment.
  • If you like to DIY, begin knocking these things off the list or line up hired help for these aesthetic items such as freshening up the paint with neutral colors and updating plumbing or lighting fixtures.

One Month Before Listing:

 

  • Contact a real estate professional with a proven track record and excellent communication skills.
  • Your agent will give you advice on staging your property for sale, much of which will involve decluttering (see below for staging details).
  • Look at your agent’s comparative market analysis to decide together on a listing price.
  • Begin pulling together any appliance manuals or service records that your future buyer may appreciate as a demonstration of good home maintenance.

Three Weeks Before Listing:

  • Storage Unit MovingCombine your real estate agent’s advice about staging and decluttering your home with your own need to pack up in preparation for the move by starting to collect boxes or storage bins, label them, and place unnecessary items in them for storage
  • Evaluate each item that you have and decide if you will use it in the future. If you will not, fill boxes to go to charities such as Salvation Army and Goodwill.
  • If you do not have a garage or storage shed in which to store these personal items, rent a storage unit.

     

Two Weeks Before Listing:

 

  • Continue the process of decluttering, packing and storing your items. You want your home to resemble a vacation rental when you are finished, with personal photos removed from the walls and surfaces cleared.
  • Begin the process of performing or scheduling some deep cleaning items such as getting the windows washed, cobwebs out of corners, and ceiling fans dusted off.
  • Although it is a lower priority than living spaces, do not forget to clean storage areas such as garages and sheds. It is understandable if you have boxed items stored in there, but it should still be clean.

One Week Before Listing:

Landscaping

  • Focus on your curb appeal by bringing in new mulch for garden beds, cleaning up decks and porches and making sure the lawn is mowed.
  • If you have time, plant some flowers to bring some color to your landscape.
  • Continue to clean and declutter.
  • Contact your real estate agent about scheduling photos and marketing notes.
  • Maintain cleaning and decluttering practices throughout the time your home is listed -- you are almost there!

For more information on selling your house or real estate in Asheville, please contact Mike Figura at Mike@MyMosaicRealty.com  or call him anytime at (828) 337-8190.

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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.

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