Your Home Versus Others
One of the most difficult tasks facing sellers is determining the value of their home. It is important to recognize that uninformed opinion, the cost of improvements a seller hopes to recover or the final amount needed to realize future plans do not factor into pricing. The best method is to study the current real estate market facts and figures as the current property market will strongly influence the value of your home.
Price Triangle and Comparative Market Analysis (CMA)
The diagram below is our Jean Hamer Prime Properties "Pricing Triangle". This triangle represents the current market demand for local properties similar to your own and will help us to determine the likely selling range of your property.
- Premium Price
- Market Indicator
- Basement Price
A Comparative Market Analysis (CMA) will give a detailed list of local properties with similar attributes to your own which have either recently sold or been put on the market for sale. A careful analysis of this information will indicate the lowest achievable selling range (the "Basement Price"), the most likely selling range (the "Market Indicator") and the highest achievable selling range (the "Premium Price") on the pricing triangle.
How does your property compare to other homes?
- Size - home, land, unit
- Location - waterfront, dry block, acreage, views
- Condition - internal & external
- Presentation - internally, street appeal
- Features - air conditioning, pool, view
- Style - modern, old, hi-rise
- Disadvantages - noise, location
- Other issues - easements etc
- What sort of buyers will find this property appealing?
- Family buyers
- Investors
- Empty-nesters and retirees
- Executive couples
- First Home Buyers
- Developers
- Renovators and Builders
- Home Business Owners