Comparative Market Analysis

The first step to selling your Palo Alto Area home is do a CMA or Comparative Market Analysis. This is an assessment prepared by a Realtor® of a home's market value at a specific point in time. Typically, a Realtor® provides a CMA for a seller when the home seller wishes to find out what their home is worth in order to list their home for sale. The price of the home is established by comparing the property to similar properties that have sold within the past year. In addition to neighborhood home sales, expired, cancelled and withdrawn listings are “sales failures” which show the “price ceiling” of the neighborhood.

A thorough knowledge of the Palo Alto Area neighborhood, and area, along with an understanding of what drives the home sales prices in that specific area is part of the “art” of preparing a Comparative Market Analysis (CMA). Have you ever wondered why most of the internet sites that provide an “instant home valuation” such as Zillow or Trulia are typically off by 20% to 40%? The simple reason is that a computer analysis of home values can only take into account “data”. The real knowledge and understanding within a CMA is primarily due to experience and expertise of a local real estate professional.

Realtors® frequently use the word “comps” which is short for comparisons. These are the homes that are most like your home in terms of property condition, location, and desirability. Property condition includes but is not limited to the age of your home, how well your home is maintained, how recently it was either remodeled or updated, and whether renovations were undertaken with proper permits. Location is the single most important factor in determining the value of a home in the Palo Alto Area. Lot size is the next most important driver of a home's value due to the MFA (Maximum Floor Area ratios) that have been adopted by most Palo Alto Area cities. Property condition is the easiest thing to change when purchasing a home. For this reason, older homes in the Palo Alto Area continue to increase in value and will do so for the foreseeable future. There is very little buildable land in the area, and land prices drive real estate prices.

Contact the Arjani Group Today to Receive a CMA for Your Palo Alto Area Home

Are you interested in selling your Palo Alto Area home? Curious about the value of your home in today’s uncertain mortgage climate? Sign up or call us at (650) 331-2993 for a complimentary Comparative Market Analysis (CMA), and we will give you an estimate of the current value of your home. We can also provide suggestions for easily improving your home’s sale value, and most importantly show you the many ways we can market your home to reach the most motivated and qualified buyers…on the internet and through traditional marketing channels.

Your welcome to browse through this website for more information about myself or my team, or to learn about our Seller Program.

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www.ArjaniHomes.com is owned by Anne Arjani who is a licensed Realtor® of Keller Williams Realty, 505 Hamilton Avenue, Suite 100, Palo Alto, CA 94301. Keller Williams Realty is licensed in the state of California, is an Equal Opportunity Employer and supports the Fair Housing Act. Terms and Conditions apply.