Michele Baird, Joseph Oregon Real Estate

..answers by Michele Baird

About Comparable Market Analysis

ACMA (comparable market analysis) can be done for either a Buyer or a Seller. It is a process of comparing your property (or the property you wish to buy) against other like property that have sold and like property that is currently on the market. This is to achieve a realistic current market value for your property and a strategy for how to place your property with the other properties that are currently for sale.

"The challenge in our area is having few good comparable sales and properties on the market to compare to."

Before writing an offer on a property for sale, a market analysis can help a buyer to determine the range of price that they would be willing to pay on a specific property. Other factors also come into play, such as the length of time on the market and the amount of activity the property has seen from other Buyers.

The challenge in our area is having few good comparable sales and properties on the market to compare to. Our area is small with a low volume of sales for specific property types and there are so many unique properties, as compared to a development of “cookie cutter” homes in a sub-division. Realtors and appraisers have this challenge and do the best they can with what is available. Appraisers have rules that they must follow and Realtors have a bit more latitude and can use comparable's that are less than perfect to get the job done. The Realtor should explain if a comparable is less than perfect and explain the reason that they used it. The result should be information that is accurate enough for the party to use as a basis to make a decision.

Collectively, the Agents/Brokers at Wallowa Mountain Properties work together and use their broad combined experience to determine realistic pricing strategies when properties fall into the 'incompatible' category.

If you have any questions, please feel free to give me a call-

Michele Baird

This information is from sources deemed reliable, but it is not guaranteed by the agent or the broker.
These properties are subject to prior sales, price change, correction, or withdrawal.
These properties are offered without respect to race, color, creed, national origin, familial or marital status. All measurements are approximate.
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