Look for Marc LaCouvée's monthly article in every edition of The Beacon Magazine (www.eyesonbc.com)!
RECOGNIZING YOUR HOME'S VALUE - TAX ASSESSMENT vs. COMPARATIVE MARKET ANALYSIS
Let’s take a look at how a CMA can guide you in the buying or selling process.
If you are a seller, a CMA can help you determine recent (within the last three to six months) selling prices for homes similar to yours, the length of time these homes were on the market before they sold, the length of time it will likely take to sell your home and the homes you would be competing with if you chose to put your home on the market at this time. How you price your home relative to competition will be critical to your success in selling your home.
If you are a buyer, a CMA can help you determine what to offer on a listing you want to buy. If you are refinancing, a CMA will give you some indication of what to expect when you have your home formally appraised.
If you are thinking of selling, buying or refinancing, be sure to talk to your local real estate professional and request a CMA. It will offer you vital information about your local real estate market that will help optimize your position in your real estate transaction.
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