~ SALES OF OCEAN CITY NEW JERSEY REAL ESTATE INCLUDING HOMES
- CONDOS & INVESTMENT
Comparative Market Analysis From a Buyers perspective a CMA can be
your most important tool in negotiation since it will detail exactly where,
the house in which you are interested is positioned.
Is it underpriced (a bargain), priced "on the money" (a fair price for both
buyer and seller) or overpriced (time to either negotiate hard or walk
If you overpay for a home in a strongly appreciating market, the market will
eventually cover your mistake.
If, however, you overpay in a flat or declining market, you will end up
holding the financial bag.
From the viewpoint of a Seller, a CMA can be equally valuable. Setting a
realistic listing price will almost certainly limit a property's time on the
Please complete the following form and we will promptly email you the
results of our property analysis.
What to expect from a CMA A CMA is a recap of housing activity in the area in which you are
interested, focusing on 3-10 properties that are similar in size and
located in the same neighborhood or nearby. The CMA will list
specific details (number of bedrooms, number of baths, total room count,
square footage, age, etc.) for similar properties that are currently on the
market (active listings), those that are under contract but not yet
(pending listings), and those that have closed and transferred ownership
(sold listings) as well as those listings that have either expired
selling or have been withdrawn by the seller (taken off the market).
Because a CMA compares similar properties it can give a buyer a pretty clear
snapshot of current housing values in a specific housing market.
the CMA is very important, it cannot be used as an absolute determination of
value, since it generally does not put a lot of weight
on condition, an
obviously important factor.
While the CMA will list homes that are currently on the market as well as
those that are pending or have expired, it is those properties that
sold and closed that give the most information. Sold and closed information
is important, since these detail specifically what buyers
are willing to pay
(and lenders are willing to lend) for specific properties. Don't make the
mistake of putting too much weight on the prices
of properties currently on
the market. These homes could be wildly overpriced compared to the price for
which they eventually sell for.
Likewise, one of the biggest reasons that a
property listing will expire without selling is because it is overpriced, so
of these expired listings should be taken with a grain of salt.
What does a CMA include?
You will find at least the following information on the "subject property"
(the one you want to buy) and anywhere from 3 to 10 additional properties:
+ Street address
+ Square footage
+ Number of bedrooms, number of baths, number of total rooms
+ Listing price and sold price if closed
Island Realty Group is a full-service Real
Estate Brokerage licensed to practice real estate in the State of
Our specialties are sales of homes, condos and investment properties
at the South Jersey Shore plus Summer Vacation Rental Management.
We are a leader in Short-Sale and REO/Bank Owned Sales throughout
Cape May County.
Island Realty Group REAL ESTATE SPECIALISTS of OCEAN
CITY and the SOUTH JERSEY SHORE REGION Joseph Zarroli, Broker of Record
1701 New Jersey Avenue - North Wildwood, New Jersey 08260
Office: 609.522.4999 Cell: 609.402.8900
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City Home, Condominium or Investment Property
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Each real estate listing provides comprehensive details about the
property so you have a clear picture of what features and amenities
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tools and resources such as calculators, moving guides, real estate
buying tips, moving and self
storage information, even home insurance. We even have an extensive
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and foreclosure terminology. BuyOceanCity.com provides you
with everything you need to find the perfect home for you!
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Ocean City Real Estate website of
Group, a Real Estate Brokerage specializing in sales and rentals of
South Jersey Shore Residential, Investment and
Commercial properties from Ocean City to Cape May New Jersey. To
help educate both Buyers and Sellers with their real estate needs,
IslandRealtyGroupNJ.com also offers comprehensive
real estate guides, real estate news, mortgage calculators, links to
real estate market conditions, and of course information about
Island Realty Group and its team of seasoned agents. If
you are in the market for a home, condominium or investment property
at the South Jersey Shore Island Realty Group is the Realtor of