A CMA (Competitive Market Analysis) is usually a strong tool that we prepare for our seller clients to help them determine a "Listing Price". It can also be a very valuable tool for our buyer clients; as it provides the information needed to place an offer. A CMA provides both clients with recent comparable sold, active, expired and pending properties in a desired neighborhood (to understand the market activity in that particular area).
Active: Homes currently for sale and are your competition for buyers. They are not always indicative of market value because owners set the price.
Pending: Formerly active listings that are under contract. Unless you know the actual sold price, they can be indicative of the direction the market is moving.
Expired: Homes that did not sell because they were probably unreasonably priced, were not marketed properly, or the home needs repairs.
Sold: Homes that have closed within the past three to six months and are your best indicative of the market value.
The time to make your dream a reality is after you complete your search on the internet and consult with family members, friends, co-workers and neighbors about your ideal home.
Please give me a call to continue with the process.