Understanding the Market
Market knowledge in real estate requires far more than numbers generated by an algorithm; truly understanding a local market is gained by seeing hundreds of homes in person.
I truly enjoy previewing homes with and for my Clients. Sometimes I preview homes purely for comparison sake or to “scout” properties while Clients are at work or traveling. Property videos and virtual tours are helpful to qualify a home but nothing replaces being in the space in person.
My Residential Market Analysis provides a long term perspective (past 10 years or more) to help Clients see a bird’s eye view of the overall strength or weakness of a given market as well as the current and historical trends.
I take great pride for the in-depth research I conduct for Clients; receiving their compliments on my market statistics and trend analysis is one of the best rewards. My Clients know I take fair market value very seriously to ensure they receive the most reliable market analysis possible for the current market. Now if only I had a crystal ball to predict the future!
Fair Market Value
What is your home worth? What is the fair market value of the new home you plan to purchase? Due diligence is needed to compile the most relevant market statistics and identify the most comparable properties sold recently for comparison. The best way to know if a property is truly “comparable” is by seeing it in person – not just by reading data on the listing sheet.
For the past several years, our local markets have experienced record-breaking increases in home sale prices for properties in very good condition and perceived as being priced fairly. Even in the best of markets, not every home will sell at the asking price or even sell at all.
Intimate knowledge of the local market is imperative when evaluating home values for sellers and buyers. I only work in markets for which I have first-hand knowledge and experience from seeing many homes in person.
Local Market Statistics
The following market statistics include the average and median sale prices as well as sale price to original price ratios. When you are ready to sell your home or buy a new home; I will compile more in-depth statistics that represent comparable features and in the same city or town, zip code, and in a similar neighborhood.
Contact Tamela to schedule a Seller or Home Buyer Consultation to prepare for the sale of your home or to purchase a new home in Arlington, Belmont, Cambridge, Medford, or Somerville MA.
Home Buyer and Home Seller Clients receive my Residential Market Analysis with comprehensive market data and historical home sale trends.