Why a Market Analysis?

A market analysis or CMA is a free service offered, and is to a large degree an non-subjective way to pin-point the market value of property.  Why is this important?  If you are considering selling your home, having an experienced agent perform a complete CMA will eliminate error in pricing.  If you are considering making an offer on a home, you will want to know the value you are getting.  In rural areas such as Table Rock Lake, Kimberling City and Branson Missouri there is such a variety of properties that include custom homes built on wooded acreage, lake-front or lake-view lots.  There are variances such as neighborhood conditions, construction type, and location to conveniences.  In this particular market a computer CMA can have a significant margin of error.  One way to reduce error is to include a “Cost Approach” in the Market Analysis. This is where you re-build the home to find a replacement cost.  You then depreciate the age and condition of the home then average the price per square foot with the base price of comparable homes (sold and currently on market).  The result is you now you have all the elements necessary to get an accurate price.