Home pricing is the most important factor to consider in order to sell your home quickly and easily. The usual mistake the seller makes is that their asking price is way too high. You cannot fool the market. It is best to price your real estate right because if you overprice it and it stays on the market for a long time, buyers will lose interest and think it has not sold because something is wrong with it. Plus, other homes in your area similar to yours may sell at a more realistic price. Pricing your home correctly will save you a lot of time and frustration. Generally, most of the best and highest offers come during the first few weeks when the most potential buyers view a home.
Also known as CMA, a Comparative Market Analysis is a listing of recent home sales, pending sales, and current listings of similar properties in a given area, used as a basis for determining the fair market value of a property. A number of factors are taken into consideration when preparing a CMA – square footage, age, number of bedrooms and baths, condition, location, and amenities.
This glossary breaks down real estate jargon into so that you can better understand.