Found this great article on Realtor.com that I would like to share explaining what a Market Analysis is. Are you ready to sell your home? If so give me a call and we will preform a Market Analysis on your home today!
-Kim Southern
Original article can be found here: http://www.realtor.com/blogs/2013/04/16/best-of-advice-what-is-a-market-analysis/
Apr 16, 2013
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What does it mean when a Realtor does a market analysis on a property? Today’s question comes from Stockbridge, MI.
Q: I have never sold a house before, I have a realtor coming tonight to do a Market Analysis, what is that?
I have an idea what it is but want to be sure. If they tell me a price they think the house is worth and I think differently then what?
A: A market analysis pertains to a list of information about homes that have sold in your neighborhood or surrounding area similar to yours.
Yes it will show pricing and this will be statistics that a realtor will utilize to figure out what to list your house for. Another good idea is to go view the current homes for sale in your area that are similar to yours minus a bedroom or a basement. That is another way to see what features these homes have compared to yours.
Your agent is going to tell you what the best price is to list your home that is of course their job and it may be you will not agree. You can always list for your price and try it out for a few weeks and see if get any buyer interest. You may also want to interview other agents and get at least 3 realtors opinions and choose the realtor you feel with market your property the best. In the end if you want to sell then go with an agent that has a solid marketing plan and knows your community and has sold in it before!
Study the market analysis and see if selling your home is what is financially best for you at this time. If inventory is low then you should expect a fast sale but if numerous homes like yours are for sale at the same time then maybe a good time to wait unless your home has a fabulous feature the others don’t have like a basement, pool or other – your realtor will know best! Good luck and let me know if can answer any other questions!
– Krisztine Bell, Homestager Virtually Staging Properties
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