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Comparative Market Analysis- A Picture of Wealth
How healthy is
your home investment? Is it time for a check-up? You may
discover that wealth has been accumulating right under your own
roof.
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Taking
Market Temperature
A Comparative Market Analysis (CMA) is a tool - the only tool -
that provides an up-to-the-minute report of home prices in your
neighborhood. A recent CMA, combined with knowledge of your
home's condition relative to others on the list, gives you an
accurate reading of the dollar value of your house.
Why an annual check-up?
A CMA is an evaluation captured at a particular point in time.
The real estate market is constantly fluctuating with supply and
demand, changing interest rates, the general economy, and
current events. Clearly, a fresh CMA each year makes sense.
Is there a Realtor in the house?
The broad experience of a NewHomesColoradoSprings.com real
estate agent brings insight for your particular situation.
Expertise in assessing homes, together with current market
knowledge, puts an advantageous combination at your service.
The Prognosis
The equity in your house could finance a college education, a
retirement plan, a remodel, or a move to your dream home. By
keeping your finger on the pulse of the real estate market,
you'll know when to transplant the riches from your home into
your lifestyle.
But I'm not selling my house - why do I need a CMA?
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Know your
equity value - don't sit on equity you could be putting to
better use.
Know your insurance value - don't wait for a disaster to
find that you're under insured.
Know your tax value - be sure tax assessments are not
increasing faster than market values.
Know your estate value - don't leave a grieving family
struggling with estate taxes.
Know your net worth - don't overlook the effect of increased
property values.
Know your sales value - you might change your mind about
selling!
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For
What It's Worth
Comparative Market Analysis (CMA) - an objective report prepared
for you as a courtesy by a real estate professional; lists homes
for sale or recently sold in your neighborhood; usually includes
location, square footage, number of bedrooms and bathrooms, and
information such as asking price, sales price and days on the
market; is essential in determining a selling price.
Appraisal - a subjective
report prepared by a certified appraiser for a fee; gives an
analysis of the estimated value of a home - considering square
footage, construction, quality, condition, floor plan,
landscaping, surrounding community, and other factors; based on
the appraiser's experience and opinions; is required to obtain a
new loan or to refinance.
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