Tim Sipprell - Insight Team

Free Home Market Analysis

Free Home Market Analysis
One of the first things you should do at the beginning stage of contemplating a move is to get a good idea of what your home will likely fetch on the current market. It certainly will give you greater confidence in determining a price range for your next home. We are happy to do a market analysis any time. Just shoot us an e-mail requesting a free market analysis, and we'll get going on the analysis within a matter of hours.

E-mail us here to get your Free Home Market Analysis

How we determine the price of your home
A Competitive Market Analysis (CMA) is designed to estimate the value of your property under current market conditions. It is, by definition, the highest price your property will bring if it is put on the open market today. A CMA is a very time-sensitive assessment and is created by looking at the property itself, as well as three outside factors:

Current Comparable Listings
If there are a large number of comparable properties for sale, there is more competition for buyers. It is critical to also understand HOW MANY sellers are currently on the market and comparing that to how many buyers are currently shopping in that market. Without this information, a seller will have less of a feel for their chances of finding a buyer. This "ratio" can fluctuate wildly. In the hot markets of 2003-2004, it wasn't uncommon to find at least 5 or 6 buyers for every seller in certain segments of the market, while in 2007 when things were much slower, it wasn't uncommon to find upwards of 15 sellers for every buyer at certain times of the year and in certain segments of the market.

Comparable listings that have sold recently
When we look at properties that have sold and compare their list price to the actual selling price, we learn a lot about the strength of the market for properties like yours and values buyers are assigning to properties in your area.

Comparable listings that have expired
Expired listings often reflect a property that was overpriced. Studying these statistics can help us price your property right -- right from the start.

While many buyers are tempted to price their home based on "what they feel they need to net to buy the next house," or based on how much money they've put into the home, the fact is that those approaches are flawed. The only thing that matters is a fair assessment of what the current pool of buyers has recently shown they are willing to pay for a home like yours. Remember: sellers and real estate agents aren't the ultimate source of determining a property's value. Buyers and buyers alone make that determination. Sure, sellers get to decide if they really want to be sellers or not, but it is the buyers who price houses.