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Feb 26 2017 29882 1
Is Your Home Priced To Much?
Generally speaking, in most neighborhoods, home values will be relatively consistent. One way to know that your home is overpriced is if your home is listed $50,000 higher than other homes for sale in your area.
While it’s not impossible that a home has a $50,000 value difference, it is quite rare. One of the most common methods used to determine a homes value is by completing a comparative market analysis. A comparative market analysis, also known as a CMA, is best described as a detailed analysis of sold homes in the past 6 month time period in a given neighborhood.
If your home is priced much higher than your neighbors, it’s very possible your real estate agent didn’t complete a detailed analysis of value. If a CMA wasn’t completed, this will not only lead to your home being overpriced, but also can create issues with appraisals.
As a Full Time real estate agent for the past 23 years, Sheryll has helped hundreds of home owners in Colorado buy and sell their homes. Sheryll's easy going, no pressure style and her in depth knowl....