Larry Costa REALTOR®
CENTURY 21 Classic Gold | 508-272-8028 | larry@larrycosta.com


Posted by Larry Costa REALTOR® on 6/8/2018

Comparative market analysis is a tool that helps sellers to know about how much their home is worth. It gives an overview of what a good price for the home is in the current market based on comparable properties. Different realtors have different practices as to how they present this information. CMAs can vary from a two page list to a 50-page guide. The reports vary as to how in-depth they get as well. The important things is the information that they contain. 


What Data Does A Comparative Market Analysis Contain?


  • Active listings of homes currently for sale
  • Homes that are pending being listed
  • Homes that have sold in the past 6 months
  • Off market homes
  • Homes that have withdrawn from the market
  • Cancelled listings


Why Homes May Have Been Taken Off The Market


Homes can go on and off the market for a variety of reasons. These reasons include seller’s remorse, high pricing, requests for repairs, or the seller may have hired a completely new agent.


Looking At Comparable Sales


Comparable sales are the homes that have recently sold and are most closely related to your home. You’ll want to find the homes on the list that are most like your home. When finding comparable homes, take the following into consideration:


  • Similar square footage
  • Same rough age
  • Comparable condition
  • Similar upgrades
  • Close proximity to the same neighborhoods, schools, and amenities


It’s important when you’re using these comparative reports that you find homes on the list that are very similar to your own. You don’t want to be comparing the price of an 8-room split level with an 11-room colonial. You also need to keep in mind that there are some neighborhoods that are more desirable than others. If one house is much closer to a sought after school than your home, you’ll need to take that into consideration for a price point. 


Location


Location may be one of the most valuable things about your home that you can’t really change. Buyers seek to live in a certain area of town and are willing to pay top dollar to do so. If you find that nearby homes are selling for much more or much less than homes even closer to yours, the location of your home may be a huge factor.  


The comparative market analysis is just one tool that your real estate agent uses to help you price your home just right and use the right marketing tools to sell it. These reports help you to be an informed seller. Comparative market analysis reports are just one more good reason that you need a real estate agent to help you sell your home.





Posted by Larry Costa REALTOR® on 4/6/2018

After you accept a buyer's offer to purchase your house, it may be only a few weeks until you finalize your home sale. However, problems may arise that slow down the home selling process. And if these problems linger, they may stop your home sale altogether.

As a home seller, it is important to do everything possible to ensure the home selling journey is quick and seamless. If you know what to expect after you accept a buyer's offer to purchase your residence, you can prepare accordingly.

Now, let's take a look at three tips to help you wrap up a home sale.

1. Negotiate with a Homebuyer As Necessary

Typically, a homebuyer will request a house inspection after his or her offer to purchase your residence is accepted. This appraisal will enable a buyer to identify any underlying problems with your home. It also may lead a buyer to request a price reduction or property repairs in order to finalize a home sale.

Although you may have allocated significant time and resources to upgrade your residence before you listed it, a home inspector still might identify assorted house issues. In this scenario, you should be ready to negotiate with a homebuyer to find a solution that satisfies the needs of all parties involved in a home transaction.

2. Remain Patient

Ultimately, the period between when you accept an offer to purchase your house and closing day may seem endless. At this time, try to remain patient and focus on the big picture, and you may be better equipped than ever before to limit problems that could slow down your house sale.

It generally is a good idea to be open to communication with a homebuyer as well. If you keep the lines of communication open with a buyer, both parties can work together to ensure a home sale goes according to plan.

3. Collaborate with a Real Estate Agent

For those who are stressed out about the home selling journey, there is no need to worry. In fact, if you work with a real estate agent, you can receive expert guidance at each stage of the home selling journey.

A real estate agent is committed to helping you achieve the best-possible results. He or she will collaborate with you throughout the home selling journey and help you identify and address any potential home selling hurdles.

Let's not forget about the assistance that a real estate agent provides after you accept a buyer's offer to purchase your home, either. At this point, a real estate agent will keep you up to date about a home inspection request and the final results of an inspection. Plus, as closing day approaches, a real estate agent will help you get ready for the big day.

Take the guesswork out of selling your house – use the aforementioned tips, and you should have no trouble wrapping up a home sale.




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Posted by Larry Costa REALTOR® on 3/30/2018

If you plan to sell your house, you should be proactive. Because, in most cases, a proactive home seller is a successful home seller.

With a proactive approach, a home seller can find unique ways to differentiate his or her house from the competition. That way, this home seller can boost his or her chances of a quick, profitable home sale.

Now, let's take a look at three best practices for proactive home sellers.

1. Upgrade Your Home's Interior and Exterior

Ensure your house looks great both inside and out. By doing so, you can guarantee your residence will make a long-lasting impression on homebuyers.

When it comes to improving your home's interior, it pays to mop the floors, wipe down the walls and ceilings and perform assorted home interior maintenance. If you need extra help along the way, you can always hire a professional home cleaning company as well.

To upgrade your home's exterior, you should mow the lawn, remove dirt and debris from walkways and perform any necessary home siding repairs. Remember, your house only gets one chance to make a positive first impression. And if your home's exterior dazzles, it will increase the likelihood that a buyer will want to set up a home showing.

2. Conduct a Home Appraisal

What you paid for your house a few years ago is unlikely to match your home's value today. Luckily, a home appraisal can help you set a competitive price for your residence from day one.

During a home appraisal, a professional appraiser will examine your home's interior and exterior. He or she also will evaluate assorted housing market data and use all of this information to provide a property valuation.

After you receive a home appraisal report, you should review the report findings closely. By leveraging all of the report data, you should have no trouble establishing a competitive price for your residence.

3. Work with a Real Estate Agent

If you want to be a proactive home seller, you need to work with a real estate agent. In fact, a real estate agent will do everything possible to help you accelerate the home selling process and ensure you can get the best price for your house.

A real estate agent understands the ins and outs of selling a home and will teach you about the home selling journey. Plus, he or she will learn about your home selling goals and guarantee you can accomplish your aspirations.

Perhaps best of all, a real estate agent is happy to set up home showings and open houses, promote your residence to potential buyers and negotiate with a buyer's agent on your behalf. And if you have home selling questions, a real estate agent is happy to answer them.

There is no need to take a wait-and-see approach to selling your home. Instead, use the aforementioned tips, and you can become a proactive home seller.




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Posted by Larry Costa REALTOR® on 2/2/2018

An open approach to selling a home can make a world of difference for any seller, at any time. In fact, there are many reasons to maintain an open approach to selling a house, and these include:

1. You can consider all of your home selling options.

The prices of homes in one part of the country may vary from the prices of similar houses in another. Fortunately, a home seller who keeps his or her options open can map out the home selling journey based on the current housing sector's conditions.

As you prepare to sell your house, it helps to analyze the local real estate sector and keep your options open. That way, you can price your house appropriately, promote it to the right groups of buyers and boost the likelihood of a fast, profitable home sale.

2. You can wait to accept an offer that matches your expectations.

Let's face it – no home seller wants to deal with underwhelming offers to buy his or her residence. If you maintain an open approach to selling your home, however, you may be better equipped than others to avoid selling yourself short.

Ultimately, an informed home seller is open to any offer on a residence but will only accept a proposal that matches his or her expectations. If this seller receives a "lowball" offer, he or she will have no trouble politely declining the proposal. Or, if this seller gets a "fair" offer, he or she can accept the proposal and move forward in the home selling journey.

3. You can reduce the risk of making rash home selling decisions.

The pressure to sell a house can be immense, particularly for an individual who is selling a residence for the first time. But with an open approach to selling a house, you may be able to avoid making rash home selling decisions.

When the going gets tough for a home seller, he or she knows how to calm down and stay focused. By taking a deep breath and looking at the big picture, a home seller can think and act logically. Then, this seller can allocate the necessary time and resources to make informed home selling choices and increase the probability of making the right decisions based on his or her individual needs.

For those who are getting ready to sell a house, it helps to maintain an open approach to the home selling journey. Furthermore, if you need extra assistance as you prepare to list your home, you may want to reach out to a local real estate agent.

A real estate agent will help you showcase your residence to potential buyers and review offers. Perhaps best of all, he or she can provide honest, unbiased home selling advice and help you remain calm, cool and collected in even the toughest home selling situations.

Make the most of your home selling experience – take an open approach to the home selling journey, and you can move one step closer to accomplishing your home selling goals.




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Posted by Larry Costa REALTOR® on 7/28/2017

Getting the best price for your home may seem like a major challenge, particularly for a first-time home seller. Lucky for you, we're here to teach you what it takes to maximize the value of your home.

Now, let's take a look at three simple ways to optimize the value of a residence in any housing market, at any time.

1. Analyze the Housing Market

Are you operating in a buyer's market or a seller's market? A first-time home seller who understands the differences between these types of housing markets can boost his or her chances of getting the best possible results during the home selling journey.

Take a look at the prices of recently sold houses in your city or town. That way, you can learn how long homes were available before they sold and learn about the demand for residences in your region.

Furthermore, don't forget to look at the prices of homes that are currently available and similar to your own. With this housing market data in hand, you may be better equipped than other home sellers to establish a competitive price for your house.

2. Conduct a Home Appraisal

A home appraisal is exceedingly valuable to a first-time home seller, as it enables a property seller to learn about a house's strengths and weaknesses.

During a home appraisal, a property inspector will examine a residence's interior and exterior. This inspector will spend several hours evaluating a residence, and after the assessment is complete, provide a comprehensive report that details his or her findings.

Analyzing the results of a home appraisal report is paramount. This will allow a home seller to find out what he or she can do to upgrade a home. Then, a home seller can allocate the necessary time and resources to transform assorted home weaknesses into strengths.

3. Collaborate with a Real Estate Agent

A real estate agent is a home selling expert, and as such, this housing market professional will do what it takes to help a first-time home seller optimize the value of a residence.

Typically, a real estate agent will help a home seller navigate all steps of the property selling journey. He or she will promote a residence to potential homebuyers, set up home showings and open houses and negotiate with homebuyers on a seller's behalf.

Perhaps best of all, a real estate agent is happy to help a home seller make informed decisions. This housing market professional will even teach a home seller about the real estate market and provide honest, unbiased home selling recommendations.

For a first-time home seller, navigating the real estate market may seem virtually impossible. But with a real estate agent at your side, you can streamline the home selling process and move one step closer to optimizing the value of your house.

Take advantage of the aforementioned tips, and a first-time home seller can increase the likelihood of receiving a great price for his or her residence.




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