What’s My Home Worth?
One of our complimentary services to clients who are looking to sell their Santa Barbara home is to provide you with a Comparative Market Analysis, also known as a CMA. This is a FREE professional analysis and evaluation of your home, taking into account the current and trending Santa Barbara real estate market as well as the comparable homes that are currently listed or have sold in the last three to nine months. These homes share similar features with your property and are referred to as “comps.”
Comparable properties, or “comps”, provide statistical data that, coupled with our knowledge of local trends, allow you to make an informed decision on the listing price of your Santa Barbara property. This is absolutely critical, as some sellers try to sell their homes on their own (called For Sale By Owner or “FSBO”) and have no quality data and on-the-ground knowledge by which to determine their asking price. Other sellers are misguided by inexperienced agents who offer advice without sufficient experience to interpret the market data, or rely on online estimates of value like Zillow.com’s “Zestimates” which in some areas of Santa Barbara are often off by literally hundreds of thousands of dollars, even $1 million or more . Either way, lack of LOCAL market data, or property analysis and interpretation, will likely result in one of two negative outcomes:
1) Too low of an asking price, which translates into significant buyer interest and a possible quick sale, but at a net loss to the homeowner as they did not capture full market value.
2) Too high of an asking price, which will result in the home sitting on the market month after month, without selling. In this scenario a home owner either gets frustrated and takes their home off the market, or is forced to do costly price reductions trying to entice buyers back to the table. The net result is a loss of tens of thousands of dollars and a net sales price much lower than if the property was priced right the first time. This is not to mention a much longer and frustrating process for the homeowner.
If you are interested in a FREE current market value of your home, Daniel will happily use market data and his extensive experience to provide you with a CMA value. Please fill out the form below, and we will begin right away to provide you with a comprehensive and accurate CMA for your home. Daniel can also assist you with market trends data and the specific nuances of the neighborhood and surrounding streets that may also affect your home’s sales price and marketing time frame. Daniel has a longstanding track record for pricing homes correctly and with integrity, and as a result he has been voted the #1 Realtor in the Santa Barbara Independent’s Best of Readers poll in 2009, 2011, and 2012.
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