Comparative Market Analysis vs. Appraisal: What’s the Difference?

Our Clients may be surprised to find out just how much their homes may be worth in this current sellers' market.  We are in the midst of supplying clients with our PROPERTY REVIEWS which include a CMA--a comparative market analysis. 

Determining the value of your home is one of the most crucial first steps in putting your home on the market. Ask too much, and you limit your potential buyer pool. Ask too little, and you miss out on much-needed cash in your pocket. Numerous factors go into pricing a home and finding the sweet spot requires careful consideration.

Home sellers have two tools at their disposal for establishing the accurate value of a home: a comparative market analysis (CMA) and a home appraisal. Though they share many similarities, there are key differences in how the two approaches ultimately arrive at a home’s listing price.

Comparative Market Analysis

A CMA is conducted by agents using their knowledge of the local market in conjunction with information available to them on the Multiple Listing Service (MLS). The MLS is an online database that contains detailed information on homes for sale as well as market trends. Information gleaned from the MLS can help an agent price a home accurately and strategically, ensuring it is competitive in the current market. It should be noted that the MLS is only accessible to real estate agents, not owners who choose to sell their homes.

In developing a CMA, agents include other factors that influence home prices to arrive at an accurate estimate of a home’s value as well. A CMA compares homes for sale and those that have recently sold in the same area. Comparable homes, known as comps, are homes with similar square footage, lot size, condition and type. A thorough CMA will provide information on selling prices, time on the market, and the difference between a listing price and sold price. They will include a home’s low, median, and high selling price.

Home Appraisal

A home appraisal is an independent evaluation of a property’s value conducted on behalf of a mortgage lender when a buyer applies for a loan. Banks don’t want to loan more money than a home is worth, so an appraisal is necessary to ensure the home’s value and mortgage amount are aligned. Appraisals are also used in the refinancing process.

Unlike a CMA, an appraisal is conducted by a licensed, third-party professional who has no vested interest in the home’s value. Rather, the appraiser inspects the home to assess its condition, location, design and size. It takes into consideration the current market and comparable sales. The goal of an appraiser’s visit is to determine the home’s fair market value. Occasionally, values do come in low; in these cases, buyers will have to come up with the difference out of pocket or renegotiate the transaction.

The main difference between a comparative market analysis and a home appraisal is who’s behind it: An agent is behind a CMA while a lender is behind an appraisal. Both are important tools in a home selling toolbox and can help establish a price based on fair market value, making the process smoother for all parties involved.

The above was written in part by Sandy Dodge, social media content editor at Windermere Real Estate.

Should you wish to receive a current CMA please don't hesitate to contact Rob: 916-208-3896

The Best Farm-to-Table Restaurants in the Sacramento Area

As the nation’s farm-to-fork capital, Sacramento is surrounded by hundreds of farms, ranches, and orchards producing everything from almonds to olives, seafood to dairy — and of course, plenty of fresh fruits and veggies. It’s not surprising that restaurants in the greater Sacramento area take advantage of the bounty at their fingertips by incorporating seasonal, local ingredients into their dishes. There are dozens of farm-to-table restaurants in the Sacramento area, from high-end fine dining establishments to relaxed, laid-back bistros. Following are our picks for experiencing the best farm-to-table food that the Sacramento area has to offer.

CLICK HERE For the entire list of restaurants.  And...ENJOY!!!!!

Quick & Easy Camping Recipes

We are smack dab in the middle of camping season, and thousands of happy campers are descending on our public forests, beaches, mountains and desert to get in touch with nature. More people are opting outside than ever before, and even first-timers are hitting the campgrounds near Sacramento.

While camping is no doubt a memorable activity for both families and friends, it does require a bit of work. Not only does setting up camp take some elbow grease, the planning and organizing on the back end takes some effort as well. One of the most important elements to consider is meal planning. Figuring out what everyone wants to eat (and how to cook it in the woods!) can be challenging. Some campers prefer to go all-out on their camping meals, even going so far as to make their own ice cream or bake their own pizzas.

But for most folks, simple meals are best. After all, who wants to spend time in the [camp] kitchen when there are songs to sing and snipes to hunt? Quick and easy is the way to go, but it can be difficult to figure out what to make, especially for newcomers. Following are some of the best quick and easy camping recipes that are sure to please the entire group.

To view the entire article and access all the recipes CLICK HERE and enjoy some of these even at home!  Happy Summer!  Rob & Barbara.

Summer Makers’ Markets & Pop-Ups in the Greater Sacramento Area

 

Sacramento is known as a city whose residents love the outdoors. A temperate climate (especially warm summer nights) means outdoor dining, movies under the stars, farmers’ markets and open-air concerts happen throughout most of the year.

Another trend has also taken over the greater Sacramento area: pop-up markets! These outdoor events allow local makers to show off their wares in a lively setting, often with music, food and drinks to boot. From jewelry to home décor, gourmet food items to plants, these pop-ups are a great opportunity to support local businesses and pick up some unique, hand-made items. Following are some of the top makers’ markets and pop-ups in and around the greater Sacramento area.

From Thursday Night Markets to Arts & Crafts Markets to a Wide Variety of Events...and more!  Click Here to access information and details for what the Sacramento Region has in store for Summer 2021!  Here's to having a great summer! From Rob & Barbara "The Baxley-Dolder Real Estate Team!"

Celebrate the Fourth of July at These Sacramento-Area Events

 It’s been a long time coming, but we’re finally able to gather with friends and family again! That means this Fourth of July is sure to be spectacular — even more so than before the pandemic, as we’re all ready for some socializing and celebrating! Although some cities have postponed their events until 2022, many others are back on this year, so the Independence Day holiday will feel a bit more normal. So whether you’re looking for a parade, a fireworks show or just a bit of revelry with your community, following are some of the top Fourth of July events to be held this year in the greater Sacramento area.

Note: All events are following state health and safety guidelines with regards to COVID-19. Vaccinations are strongly recommended for those who aree eligible,and guest are encouraged to wear face coverings, especially those whoare unable to be vaccinated, including children age 2-11.

We hope that you are enjoying your summer!  If you are planning to celebrate the 4th of July close to home in the Sacramento area, here are some great events that are planned this year!  CLICK HERE for the complete list! 

Here's to a fun-filled, safe holiday! 

Rob Baxley & Barbara Dolder

 

       

 

Cool Off With These Homemade Popsicles (& Boozy Ones Too!)

Summer is upon us, and in the greater Sacramento area, that means one thing: it’s hot! The River City is notorious for its dry summer heat, which ramps up in June and hits its peak come mid-August. Locals are always on the search for new ways to cool off, whether it’s jumping into a nearby swimming hole, going rafting or tubing, or relaxing with a refreshing summer cocktail.

But another great way to stay chill this summer is by indulging in the ultimate summer treat: the popsicle. The frozen fruit pops have come a long way since their humble beginnings, so you don’t have to settle for just red or orange, you can try grown-up flavors like mocha and kombucha. There are even boozy varieties! Best of all, they are easy and affordable to make at home — all you need is a popsicle mold. Following are some of the best recipes for summertime popsicles for both adults and kids alike.

Here's to a COOL,refreshing summer!  ENJOY these great POPSICLE recipes! 

For the complete article CLICK HERE and stay cool!

 

How to Prep Your Home for Sale

The decision to sell your home is a big one, and not one to be taken lightly. Once that decision is made, the real work begins. Getting your home prepped for sale takes a bit of planning, a lot of organization and some elbow grease, but approaching it strategically can affect the bottom line when it comes to the number of offers you receive and the final sales price.

As exciting as it is to move into a new home, your “old” home needs a little TLC before switching hands. Not only will this help you get top dollar, it will also help streamline the process come inspection time. Following are some of the best ways to prepare your home for sale.  

To view this entire article  click here.  And to get personalized help contact Rob Baxley: 916-208-3896 or email: Rob@RobBaxley.com

Enjoy Your Summer!