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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

"Russ Fortuno is a 5-Star professional who I highly recommend without reservation. He is knowledgeable, experienced, prompt, efficient, polite, fair, honest, and very personable. We interviewed four real estate agents and he was far and above the most experienced, proficient, and knowledgeable. He gave us excellent advice on how to prepare the house for the market, and directed us on having an estate sale. He sold our house in Green Valley, AZ before it even went on the market, and did an excellent job negotiating a fair price. Our entire family was thrilled with the service he provided to us. You cannot go wrong with Russ Fortuno."
- N. T., Highland Park, IL
"I can’t say enough about what an outstanding job Russ did for us! We decided to retire to AZ and after touring several areas in the state, we chose the Tucson area. I found Russ online and reached out to him to help us find our retirement neighborhood and home. Russ spent a day showing us all of the different neighborhoods in both Sahuarita and Green Valley that met our requirements and were within our budget. By the end of the day, we had chosen four neighborhoods. Russ then found four homes for sale in our chosen neighborhoods; two in our favorite! The next day, Russ took us to tour the four homes and by the end of the second day, we made an offer. We are relocating from Kentucky and Russ has been there for us every single step of the way. He has been invaluable in making this entire experience smooth and exciting for us! His service after the sale has been equally exemplary!"
- E. W., Sahuarita AZ
"Russ was impressive from the first moment we met him. We were looking at a property in a complex where he just happened to be previewing a unit. We asked if he was a real estate agent and he dropped what he was doing to show us some properties in the same complex. From that moment forward he was attentive, responsive and showed us that he knew the area and was helpful in looking for the right property for us. He got us through the process with ease and even went the extra mile in the offer process to make sure we made the best effort to secure our choice. Can’t say enough about him. Russ is truly a professional in the best sense of the word. "
- M. L., Green Valley 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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