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Pricing Your Home using a Comparable Market Analysis

Pricing Your Home

Before listing your home for sale, we need to determine an accurate market value. To accomplish that, I’ll prepare a thorough Comparable Market Analysis (CMA), which will help us determine a likely range that you home should sell for.

In the analysis, we’ll look at homes similar to yours, which have:

  • Recently sold
  • Are currently under contract
  • Are currently active on the market

This will also help us determine an appropriate price to list your house for against the current competition, and considering (at minimum) its size, age, location, features, and the current market activity.

I’ll give you my objective perspective and advice as to how much you should list your house for. While I hope you take my advice, ultimately you decide on the list price for your house.

However, the buyers in the market ultimately determine the market value of your home. It is only worth what a ready, willing, and able buyer is willing to pay. That should be in line with the value we see in the CMA, as long as there are no major changes within the market, and you make the right decisions on pricing right from the start.

Many homeowners tend to overprice their house when they first hit the market because:

  • They believe they should have “wiggle room” to be able to negotiate to the price they want to get.
  • They simply hope that someone will pay more than the market data indicates.
  • They price it based upon what they “need to get” in order to sell their house.
  • They add every dollar of improvements they have made to the house over the years onto the data-driven value.

When a seller overprices their home, for any of these reasons, they usually lose buyer interest by being out of line with the market. This causes their home to sit, accrue days on market, and cause buyers to conclude there’s something wrong with the house, it’s overpriced, or both. Stale listings do not sell for asking price, and the longer the home sits on the market, buyers will be expecting price reductions or submit low offers.

So, before we even go over the market analysis, my best advice is to listen to the data and price your home accordingly. That’ll end up saving you a lot of time, money, and aggravation.

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TESTIMONIALS

"We found Russ to be an excellent Realtor. He was so easy to work with, very professional and thorough. He was always prompt to respond to our calls and emails. We were a bit nervous at first, because we were out of town buyers, but Russ quickly put us at ease. He sent us many potential prospects but he was never pushy. It was so nice to work with someone so honest. We would highly recommend using Russ to anyone who was looking to buy or sell."
- L.M., Green Valley, AZ
"My wife and I are now living in a home we saw in person for the first time a few days ago, in fact just an hour before we signed the closing documents. That’s the kind of trust we have in Russ Fortuno. As a buyer’s agent, you could not ask for more. He listened carefully to what my wife and I had in mind and then repeatedly, told us why we wouldn’t be happy with homes we were interested in… until we asked him to take a look at the home we eventually purchased. He went above and beyond what was expected and was always available to answer our questions throughout the process in a very timely manner. I’m not sure I’ve ever experienced service like we received from Russ. I would highly recommend Russ if you are buying a home, especially if you’re not local and you need someone you can count on to look out for your best interests."
- M.H., Green Valley AZ
"This is an agent that really knows the local market and market values. We were under contract in 30 days and he was extremely helpful in assisting us through the inspection process that satisfied us and the buyers. We would highly recommend Russ as his realistic estimates didn’t mislead us and brought more than we had expected as a sales price. Showings began immediately and he would follow up with each real estate agent that showed our home. "
- W.W., Sahuarita AZ
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Russ Fortuno, Associate Broker

I'm a Southern Arizona native and year-round Green Valley resident. Whether you’re buying or selling a home in the Green Valley or Sahuarita area, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
Contact Russ

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