Homebuyer Associates 

Michael D. Holloway

2050 N. Commerce St.

Suite 402

Milwaukee, WI 53212

Cell:     414-254-4129

Phone:  414-562-0409

homebuy@execpc.com

 

 
The Comparative Market Analysis (CMA)


The Market

Any home available to, RE/MAX, Prudential, Coldwell Banker or any other large real estate firm is available to Homebuyer Associates because all Realtor firms rely on the Multiple Listing Service (MLS) to locate listings (a "listing" gives a company the right to offer a home for sale).

The MLS database is a list of all Realtor homes on market in a four-county area. By MLS rules, any home listed for sale by an MLS Realtor must be placed in the database within 24-48 hours. Agents who claim to have "early" access to homes going on market want to create a sense of panic. Panic is not good for you. Be careful, don't buy a home based on panic or emotion. Better to buy a home based on information.

We will also search for homes that on are the market as For Sale by Owners.


Pricing

Sometimes home asking prices are set artificially due to competition for listings among real estate companies and agents. Every large real estate company prefers to have their lawn signs in the lawn. Sometimes, to get that lawn sign in the lawn a false promise is made to a seller as to the value of the seller's home.

Don't be caught up in someone else's false promise and pay more than you should for a home based on asking price alone. Better to obtain a Comparative Market Analysis and buy your home based on market research - based on information, not emotion.


Value

Information is a key to making a sound real estate purchase. When buying a home consider...

  • The number of days the home has been on the market;
  • The number of homes for sale in a 3-5 block radius;
  • Select the three most recent comparable sales in the past 12 months for the area;
  • Determine the "ballpark" age of the big ticket items (roof, furnace, etc...) which
    affect value; (your inspector will provide a better, more detailed opinion of these items)
  • Try to determine what the seller paid for the home;
  • Provide comments/observations about the condition of the home and area values;
  • Determine average sale price of similar homes for the area.
  • From this information the offer to purchase is drafted based on your terms.