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How Does Rhonda Fee Arrive at My Home’s Estimated Value?

Written by Posted On Tuesday, 10 October 2017 19:09
Pleasanton CA Homes - Know why recent homes sold hold the most weight in determining your Pleasanton CA  home for sale’s value. Pleasanton CA Homes - Know why recent homes sold hold the most weight in determining your Pleasanton CA home for sale’s value.

As a home seller, you want to be sure that your home is priced right before you list it. The last thing you want is to leave money on the table, or overprice your home. Doing any of these two things will lead to more problems, and you already have enough challenges and concerns on your plate.

 

To find out how much your Pleasanton CA home is worth, the best and closest price you can find for its market value will be from a real estate agent, or a REALTOR® like me.

 

How do I come up with your home's estimated value?

 

Real estate agents determine your Pleasanton CA’s home value by doing a comparative market analysis. A CMA is an analysis of recently sold homes in your area which can help set the price range for your home, just as you like to compare the prices of your favorite brands from different stores.

 

What’s in a CMA and how can it help you? Since it is a real estate agent who prepare the CMA, you’ll likely find different items included in it, but here are some common things you should see.

 

  1. Recently sold properties. This contains the list of similar properties in the area sold with the past six months. The more recent the purchase, the better. It is important because it says what actual buyers pay for similar properties.

 

  1. Current real estate listings. This refers to a list of similar homes currently for sale in your neighborhood.

It helps you get to know your competition better. You also get to know how much they priced their homes for. Take note, these homes’s prices are not likely to be the final price, so don’t base your pricing on current real estate listings.

 

  1. Pending sale listing. These are homes under contract. I don’t suggest you use the prices of homes under the pending sale listings because the deal is not over yet, and there are probably negotiations under way.

 

  1. Cancelled or withdrawn listings. These are homes that used to be on the market but for one reason or another have been taken off the market.

 

Where does the CMA’s information come from? Experienced real estate agents know that to come up with the right valuation for your Pleasanton home, the data must come from the MLS (multiple listing service).

 

The MLS is a database of homes already sold, homes for sale and homes under contract in a given area. It is only accessible to real estate agents. The MLS contains the most accurate record of square footage, number of bedrooms, and other home features you need to accurately compare homes.

 

The following are some home features we consider in preparing the comparables:

 

Age and condition of home. The year or era your home was built is a factor we look at when comparing properties. New homes are not necessarily more expensive, but how your home looks relative to its age does matter.

 

Square footage. One of the features we look at is the similarity in square footage. In comparing two 2-story Colonial style homes for example, one of the things we check is if the homes are nearly similar size.

 

Number of bedrooms and baths. These two are important determiners of a value of a home. If your home only has two bathrooms while the rest of the comparables have three, certain adjustments should be made in pricing.

 

Amenities. The more amenities your home offers, the higher the price. Luxury amenities like top-of-the-line home appliances, spas and swimming pools make a huge difference in the home’s price.

 

Location.  The view outside your window can affect your home price. Your home may not be the best, but if it’s near a great school, on waterfront or on a cul-de-sac, your home’s value appreciates.

 

I’m Rhonda Fee, broker owner of Aspire Realty licensed in the state of California. When you are my client, I handle you with the same care as if I were buying or selling a property for myself. I care about your success in buying or selling your Pleasanton, CA home. Sign up with me and let’s work together to make your real estate dreams come true! Call me now at 925-200-0827.

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Rhonda Fee

Rhonda Fee is a successful Real Estate Broker & Realtor serving the Greater Bay Area. She is a highly sought after Pleasanton luxury homes Realtor® with a real estate office location in Downtown Pleasanton.

 

She specializes in luxury home sales and provides excellent customer service to all of her real estate buyers and sellers regardless of the price of the home. Her marketing materials are unsurpassed in quality and she prides herself on putting the client first and foremost in the entire process. Rhonda aims to please her clients in all aspects of the transaction, from best possible price for a home to making sure the communication is on task and so much more!

 

Rhonda achieved the Grand Master’s Achievement Award in 2014 from Bay East Association of Realtors where she ranked among other top producing peers. She is a member of the Institute for Luxury Home Marketing.

 

Rhonda Fee

Broker/Owner CA BRE # 01414989

Aspire Realty Services

Phone: 925-200-0827

 

RhondaFee.com/

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