Welcome to Reliberation Sign in | Help
in
Latest Most Popular Active Watch List Amigos  
Freda Hoskins, Realtor®

Do We Need "Fairy Dust" to Create A Good CMA?

By: Freda Hoskins, REALTOR®
Friday, April 20, 2007 10:39 PM

Like you, I strive to utilize every source available to help put together facts and figures to share with potential selling clients regarding the proper pricing of their homes.   I am currently putting together a revised listing presentation for property that I created a CMA for about six months ago... and now the owners have decided to place their home on the market.  Since six months ago... our area's market has flexed from "stagnant" to a fairly robust "buyer's market".  I am able to reference current home sales considerably higher than those few that sold six months ago.  This home is unique... located on acreage close to town... truly impossible to find another property to closely compare it to.

Knowing that CMA's are simply a "tool" to help guide us toward a responsible & marketable sale price, I would love to hear what factors you view as most important in determining a recommended sales price.  What is process and/or "fairy dust" formula?

Freda Hoskins, Realtor®
Sandpoint, Idaho

http://www.idahomesnorth.com

<< Read More at Reliberation.com

Comments

Ron Tiller
Member Since '05

Ron Tiller said:

Most of the properties that I showcase are unique, rural or lake properties. For properties such as these, CMA software is useless at best and highly misleading at its' worst. I usually wind up pulling everything in the area anywhere near the right price range, especially solds, stacking then in price order and then determining where in the pile the potential listing should be. That, theoretically, gives me a price range. Then it is a case of "Mr. and Mrs. Seller. This appears to be the price range. Would you agree?....... Fine. If we price your home at the top you may be here for quite a while.... If we price it at the bottom, it would seem that we could expect some robust activity and perhaps an offer relatively soon. Is that what you want?

Sorry, but there is no faisr dust or magic available. Experience guides. The market dictates.

Ron Tiler - Grand Rapids, MI

April 21, 2007 6:06 AM
Todd Clark
Member Since '06

Todd Clark said:

Ron couldn't have said it better. No fairy dust will help you, Try a majic genie - I've heard you only get three listings though.

April 21, 2007 7:18 AM

Add a comment

To post a comment you can sign in using a Point2 ID. Sign in.
Don't have a Point2 ID? Join Point2 NLS or post as a guest.

My Blog

Freda Hoskins, REALTOR®
IdaHomesNorth.Com

Freda Hoskins, REALTOR®
Member Since '06

recent comments
"juggling hats"
Freda Hoskins, REALTOR®
"how not to solicit expired..."
Freda Hoskins, REALTOR®
"16 minutes redpin"
Freda Hoskins, REALTOR®
"survey"
Freda Hoskins, REALTOR®
"ny times"
Freda Hoskins, REALTOR®
"the greatest thing since sl..."
Freda Hoskins, REALTOR®
"the greatest thing since sl..."
Freda Hoskins, REALTOR®
"gifts"
Freda Hoskins, REALTOR®
"gifts"
Freda Hoskins, REALTOR®
"nice to meet you"
Freda Hoskins, REALTOR®