If You Want to Buy a Temecula Valley Home and You Want Me To “Run Comps” Then You Have to Hire Me
Phoenix Home Buyers - Not so Fast - Slow down and read this good article!
If you've been in the market to buy a Phoenix home you know it's HOT HOT HOT. New listings are way down and sales are way up. It's critical to understand the market - and what's happening now and the past 3 months. Offering too high a price for a home that won't appraise is a waster of everybody's home. Multiple bids or not.....slow down and make sure your agent runs accurate and current comps.
Call me if you need some assistance.
If You Want to Buy a Temecula Valley Home and You Want Me To “Run Comps” Then You Have to Hire Me
“Run Comps” is real estate jargon for comparables, or homes that have sold in recent months (usually last 3) that are comparable, or similar in size, condition and proximity to the home in question. The Multiple Listing Service (MLS) keeps a record of all sold listings, as does the county.
Why won’t I run comps for just anyone?
- Liability. California Association of REALTORS® (C.A.R.) has a market advisory that states in a nutshell that the purchase price agreed on is within a range of market value and that market values are subject to change.
Running comps of a few sold listings does not give the complete picture, or analysis, of a property’s market value. For my clients, I prepare a Comparative Market Analysis report, which is as detailed as I can make it to help discern market value.
It may seem harmless to give out comps to anyone who asks, but if they decide 6 months to a year later to buy, those comps would be outdated. Market conditions are ever-changing. I refuse to mislead the public and put my real estate license on the line for just anyone by giving comps when I’m not one of the agents in the transaction.
- Time. It takes time to prepare a thorough Comparative Market Analysis. When I prepare a report, I preview active homes for sale in the area of the home in question, or subject property. I request information from a reputable title company which may take a day to receive. Then it takes time to analyze and put together a report.
I’d like to dispel the myth that REALTORS® don’t do anything for their sales commission. It may seem inconsequential to find a few sold comparable homes, but that is the only beginning. I take my profession seriously.
If you want to buy a Temecula Valley home and want me to run comps, then you have to hire me. If not me, then another agent, but I guarantee any agent who is knowledgeable of market prices won’t run comps for just anyone as a public courtesy and take the liability and lack of conscience that goes with it.Pamela Seley, REALTOR®
Short Sale Resource | CA DRE lic # 01824145
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Pamela Seley, REALTOR® has helped homeowners in SW Riverside and San Bernardino Counties, California, by negotiating short payoffs with the following lenders and servicers:Bank of America * Chase * CitiMortgage * EMC Mortgage * GMAC * HSBC * Indymac (now known as, One West Bank) * Midland Mortgage * SLS Specialized Lending Servicing, LLC * Wachovia Mortgage * Wells Fargo * World Savings Bank
All information deemed reliable, but not guaranteed. Copyright © 2009-2011 by Pamela Seley, REALTOR® | CA DRE Lic # 01824145
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