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Setting Your Property’s Asking Price

Determining Fair Market Value

Pricing your home properly from the beginning is an important factor in determining how long it will take to sell your home, as well as being key to ensure maximum market exposure.

Comparative Market Analysis

An impartial evaluation of market activity is the most effective way to estimate a property’s potential selling price. A Comparative Market Analysis (CMA) determines Fair Market Value (FMV) & considers similar properties that:

1. Have sold in the recent past or are under contract:

  • This shows us what buyers in this market have actually paid for properties similar to yours, or the asking price of properties successfully under contract.
  • This helps us gauge how much lending institutions will be willing to finance for your property.

2. Are currently on the market:

  • These are properties that will be competing with yours for the attention of available buyers.
  • We can see exactly what alternatives a buyer will have to purchasing your home.
  • We can be certain that we are not overpricing or under­pricing your property.

3. Factors that have little or no influence on a home’s market value:

  • The price the seller originally paid for the property.
  • The seller’s expected net proceeds.
  • The dollar amount spent on improvements.

When Evaluating Comparable Properties, We Use the Following Criteria:

  • Properties active, under contract, or sold within 6 months.
  • Properties in the same or similar neighborhoods.
  • Properties +/-­10% of your square footage.
  • Properties with like attributes: # of stories, # of garage spaces, with or without pool, etc…
  • Properties in similar condition.
  • Remove Foreclosures & Short Sales.
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My wife and I relocated to Austin from the east coast and didn't know a realtor in town, so looked online. We called a few different people and really seemed to click with Eric. He knows Austin very well, which is what we really cared about, since we knew little about the various Austin neighborhoods.…
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Eric is such a fantastic realtor! I had a distressed home to sell and Eric gave me the advice I needed to list it at a price that would sell. His suggested price was right on, and the house sold in a week! Eric was always available and replied quickly to all of our questions.…
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My wife and I found Eric online in 2011 when we were considering moving to Austin. Eric was very helpful showing around various neighborhoods during my business trips that made my decision to move to Austin easier. Unlike most agents, Eric also helped us find an apartment for around 6 months so that we could…
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