How Much Is My Atlanta Home Really Worth?
How Much Is My Atlanta Home Really Worth?
No one person can determine what the market will price a home. We can make predictions based on good information, analyze the competition, and review recent sales information for comparable properties. A Comparative Market Analysis(also known as a CMA)will look closely at what “comparable” homes in your immediate neighborhood have sold for and then consider the differences between your home and the homes that have sold. CMAs are performed by licensed professional Realtors.
Comparative Market Analysis
CMAs use a data base, generally the local multiple listing service (aka MLS) which contains detailed information about recent sales, pending sales and homes that are presently listed for sale. CMAs focus primarily on recent home sales. Realtors look closely at the location of the comparable home, the date of the sale, the sales price, any special circumstances with impact on the sales price (example: foreclosures), condition of the property sold and the property’s physical characteristics.
Adjustments In Price Based on Physical Differences
The physical differences between the homes sold in your immediate neighborhood and your home will be considered in the form of price adjustments. If a comparable home sale has a basement and yours does not, then a deduction in price will be made to your homes “market value”. If your home has a sun room and the comparable home sale does not. The lack of a sun room in the comparable sale will be acknowledged in the form of a deduction to the sales price of the comparable home. These adjustments are made until the point where the two homes are on a “level” playing field. This is how the estimate of the market value of your home is determined.
The CMA is an estimate of the value of your home if sold in the present market conditions.
Sally English and The English Team
Sally English and The English Team specialize in homes and neighborhoods convenient to Emory University and the Centers for Disease Control. Call us if you are considering the question “how much is my Atlanta home really worth?” We have answers.
Atlanta homesellers: call Sally English and the English Team for a FREE CMA for your home. We would be pleased to provide a Comparative Market Analysis of your Atlanta Georgia home at no obligation to you.
Call Sally and The English Team at 770-939-3174 or EMAIL sallyenglish@englishteam.com