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Real Estate Agents -- CMA Analysis
Posted on 8/29/16 at 5:02 pm
Posted on 8/29/16 at 5:02 pm
Do you mainly run your CMA analysis through MLS? Does MLS just generate a CMA for you?
2
Posted on 8/29/16 at 7:06 pm to TheOcean
Depends on the agent
A GOOD agent will run numbers but also analyze them and make some minor adjustments to the comps....as well as help you understand the competition on the market as well as properties that went unsold recently
In short, a good CMA should give you some really good information
A GOOD agent will run numbers but also analyze them and make some minor adjustments to the comps....as well as help you understand the competition on the market as well as properties that went unsold recently
In short, a good CMA should give you some really good information
Posted on 8/30/16 at 10:08 am to Shankopotomus
Appreciate it. Do you mind sharing how you run a CMA analysis? And how do you make minor adjustments to the comps?
Posted on 8/30/16 at 10:18 am to TheOcean
do you even RPR, bro
Posted on 8/30/16 at 10:41 am to gizmoflak
Not a realtor...want to hook me up with a login, brah?
Posted on 8/30/16 at 12:46 pm to TheOcean
I run mine through MLS. MLS does everything for you for a vague ballpark idea of what things are selling for in your area. To really get a true sense of value and dial it in takes a few hours. I pretty much go street, curb appeal, exterior, interior room by room vs comps.
Posted on 8/30/16 at 12:47 pm to TheOcean
quote:
Not a realtor...want to hook me up with a login, brah?
No one will. It's got keystroke security. They will boot him like a mofo.
Posted on 8/30/16 at 2:10 pm to ItNeverRains
quote:
To really get a true sense of value and dial it in takes a few hours. I pretty much go street, curb appeal, exterior, interior room by room vs comps.
Mind walking me through some of this process and how some of these aspects will affect value?
This post was edited on 8/30/16 at 2:10 pm
Posted on 9/5/16 at 2:37 pm to TheOcean
Technically you could spend a day at the clerk of court pulling public record and skip the mls altogether. Obviously not recommended however.
Appraisers set certain values for various features of your home.
If there are enough sales in the current neighborhood, you must use those comps. If you are comparing two houses, both 2000 sq ft, and one had a pool and the other didnt, you would add approx $10,000 or so in value to the home with the pool.
If one is a 4 bed 2.5 bath and the other is a 4bed 2 bath , the appraiser may give $5,000 value for the half bath.
Granite versus formica
Number of bedrooms
Number of baths and half baths.
Lot size - must be talking acreage for any real value add.
New roof versus old
New appliance versus old.
Etc etc.
Appraisers set certain values for various features of your home.
If there are enough sales in the current neighborhood, you must use those comps. If you are comparing two houses, both 2000 sq ft, and one had a pool and the other didnt, you would add approx $10,000 or so in value to the home with the pool.
If one is a 4 bed 2.5 bath and the other is a 4bed 2 bath , the appraiser may give $5,000 value for the half bath.
Granite versus formica
Number of bedrooms
Number of baths and half baths.
Lot size - must be talking acreage for any real value add.
New roof versus old
New appliance versus old.
Etc etc.
Posted on 9/5/16 at 6:40 pm to Balloon Huffer
Finally picked up a book on appraising. How hard is it to figure out how much one feature should increase the value of the home? I know it depends on the location and depends on the market.
Posted on 9/6/16 at 8:48 am to Balloon Huffer
Question. 20 rural lots all in a row. My house is 12 years old on a slab. Two new houses just built and sold a few lots over. Both houses are smaller than mine 2250 sq ft vs mine 2550. Finishes are the same on those two and mine, only difference is they are pier construction. Can they be used as comp's because they are pier construction? Does the age of my house effect appraisal value ? Thx
Posted on 9/6/16 at 9:36 pm to TheOcean
Seems you're willing to do a lot of work and put in a lot of time over this appraisal issue...I applaud you for that
But, is it worth saving the appraisal fee to do all this work? Just trying to follow here....
But, is it worth saving the appraisal fee to do all this work? Just trying to follow here....
Posted on 9/7/16 at 10:17 am to Shankopotomus
I'd like to learn enough to do a rough analysis myself on any foreclosure properties that pop up. And I feel like learning how to think like an appraiser will definitely help me in any future RE investments
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