Comparative Market Analysis - Missouri Real Estate Market - Missouri Property Values - Missouri Home Values

Comparative Market Analysis

Comparative Market Analysis

Comparative Market Analysis Reports are provided by Licensed Real Estate Professionals to provide the current market value of properties. Property Value as a term has different meanings. In this section of our site, we will discuss property value as it relates to market value for a traditional real estate transaction for Missouri land values and Missouri home values. Property Valuation Tools to determine Missouri Property Values are plentiful and available to provide overview estimates of value, however,  in order to get a more detailed and accurate value that takes into account the current market, similar comparable properties in the area, and recent sales, a CMA is needed to be provided to clients before placing the property on the market for sale. With a CMA, property sellers are able to price properties to sell in the current Missouri Real Estate Market. Get your Missouri Homes Values, and M

Market Value

The property value in terms of market value is what a buyer is likely to pay and what a seller is likely to accept under normal conditions in the current market. Lenders oftentimes will request appraisals to show the opinion of property value. Appraisals help lenders to know that the value of the property is enough to cover the loan amount. Appraisals are performed by licensed real estate appraisers. The appraisers are selected by the lenders,  not the sellers. Appraisers use many tools and strategies to estimate the opinion of the value of a property.

CMA

Real Estate Agent Services include providing sellers with a comparative market analysis, also knows as a CMA,  for property,  land,  and home valuation. A comparative market analysis is not an appraisal. It is an analysis report of recent real estate sales in the area of similar properties. The CMA provides information relating to similar recently sold properties in the market area. Additionally, the CMA provides information about current similar properties on the market and recently expired properties that were on the market but were not sold.

A detailed Comparative Market Analysis can include details such as the initial listing and the selling prices of properties as well as the time span the property was on the market.

Properties used comparables in the CMA can go back as far as six months.  Depending on the market stability, the agent will most likely seek comparable properties within the last three months. Some instances require longer intervals however, more recent comparables are most suitable.

Purpose of Comparative Market Analysis

The analysis of information in a CMA helps a seller to understand the current market for similar properties. To get current Missouri Property Values,  Missouri property sellers then understand the opinion of property value based on the current market. Sellers can then decide upon the asking price.  Pricing properties based on the market conditions, help sellers to sell properties quickly in current market conditions. Recent land and home valuation services by licensed real estate agents, help sellers to have the most current information regarding the area real estate market.

Properties priced at market value are more likely to sell quickly, and furthermore at the market value price. Many lenders will only loan the amount of the appraised value to qualified buyers.

When overpricing properties, sellers risk creating challenging situations. For example, buyers who are using financing can have limitations in addition to the possibility of having more upfront costs in order to proceed with the purchase. Additionally, overpricing a property creates a situation in which the property remains listed on the market for a long duration. Properties listed on the market for a long period of time can create the risk of creating a stigma. Properties that are on the market for extending periods risk losing buyer interest. Moreover, properties on the market for long periods of time can risk buyers making negative assumptions.

Underpricing a property can produce a quicker sale but results in a sale at a lower price.

Determining the correct market value and pricing the property as such, creates more interest. As a result, this action can result in a quicker sale.

Contact us today for a CMA to get your Missouri Property.

Missouri Property Values

Ozarks Missouri Real Estate Agent Christy King provides CMAs for the South Missouri Real Market Area, specializing in the Missouri Ozarks in regions of Ozarks County, Douglas County, Wright County, Texas County, Shannon County, Oregon County,  and Howell County. Contact Christy King to get your South Missouri Property Value.

Lake of the Ozarks Real Estate Agent Kevin Davison provides CMAs for the Central Missouri Real Estate Market, specializing in the Mid Missouri regions of Miller County, Morgan County, Laclede County, Benton County, Hickory County, and Camden County. Contact Kevin Davison to get your Mid Missouri Property Value for properties around Lake of the Ozarks.

Central Missouri Real Estate Broker Mark James provides CMAs for Real Estate in Central Missouri in regions of Phelps County, Crawford County, Pulaski County, Dent County, Maries County, Franklin County, Washington County, Gasconade County, Osage County, and Cole County. Contact Mark James to get your Central Missouri Property Values.