The pictures of the local houses up for sale on your social media feed tempt you. The tempt you to go see what kind of larger home you can afford; they tempt you to see how much you could ask for your current home where you have lived for the last 20 years. In fact, recently as you scroll through the social media posts on your Facebook page, you find yourself spending more time looking at pictures of other people’s houses than you do other people’s children or pets.
As the nation’s economy continues to hit record highs, it should come as no surprise that there are also a growing number of parts of the country that are experiencing record high real estate numbers as well. Sometimes these record high numbers represent the simple number of homes that are changing hands, other times the numbers represent increased value in starter homes in specific neighborhoods known for excellent school districts. Either way, if you want to make sense of today’s real estate market, you have to look at the listings through a pretty strategic lens. For instance, using the realtor comparative market analysis (CMA) numbers, you can really get a vision of the value of a property in its particular location.
Realtor CMA Numbers Help Buyers and Sellers Make Educated Financial Decisions
Real estate CMA software serves as a valuable and necessary tool for buyers who are moving to a new area. If you are transferring from one of the coasts to the midwest, you may have a distorted idea about the value of a property that you are considering. With the use of realtor CMA financial information, however, you can compare the property you are looking at to other similar homes in the area. It should be obvious that you cannot compare a home in Omaha, Nebraska, to a home in Oakland, California, but the latest real estate software can help buyers make the most logical and useful comparisons.
The median sales price of new houses sold as of February 2018 was $326,800, according to the Census Bureau. This does not mean, however, that this is the right place for the home that you are looking at. Carefully looking at the comparative market value of other homes in the area where you are looking can help you decide if you are offering the right price on the property that you are considering.