HOW DOES A COMPARATIVE MARKET ANALYSIS HELP?
A comparative market analysis is an indicator of what today’s buyers are willing to pay for a home or property on Cortes Island at the time the analysis is done. It compares the market activity of homes similar to yours in your neighbourhood and elsewhere on Cortes Island. Those that have recently sold represent what buyers are ready, willing and able to pay. The homes currently listed for sale represent the price sellers hope to obtain and will be your competition. Those listings that have expired or been on the market a very long time are generally overpriced, hard to finance, poorly marketed or there is a major defect in the home or property that buyers are not willing to deal with. It should be noted that sometimes the ‘major’ defect is not that hard to deal with and smart buyers are well advised to do some research on the problem before discounting considering the purchase. A smart seller will also do some research into the problem and offer some possible solutions including price
