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Does anyone know how long it takes to do a comparative market analysis?
We've had our house on the market for 5 months. I'm going insane. lol.
We had a second showing on Monday, and Monday night our realtor said it sounds like the people will put in an offer, but that their broker is going to run a CMA for them first, so she's thinking they probably will try to offer something lower than our asking price.
I still haven't heard anything back, and I feel like I'm sitting by the phone all day waiting for a wayward boyfriend to call. I keep trying to tell myself that it might just take a while to run the CMA...I know we had one done when we put our house on the market, but I can't remember how long it took to complete it. So...maybe they just don't want our house after all and my realtor didn't bother to tell me?
Before I go all "annoying client" and call to ask my realtor if she knows what's up, I'm wondering if anyone has had a CMA done and if they can remember how long it took to complete...was it an instant thing, or did it take a day or two?
Re: Does anyone know how long it takes to do a comparative market analysis?
I think it would take a day - that's about it. It's really the same thing your realtor did to help you decide on a listing price.
Feel free to call your realtor to see if anything happened with it.
Are you united with the CCOKCs?
A good CMA takes time...it involves a lot of evaluation. That being said, quit torturing yourself: send your Realtor an easy little note...'heard anything from the visitors the other day?'
Good luck!!!
Lighthouse State Beach, Santa Cruz.
It shouldn't take too long to generate a list of the comps and then compare your house with the local houses that have sold based on set criteria like lot size and square footage and year built. The harder part is evaluating everything, which is something that they buyers will have to do.
My realtor got us a CMA in half a day, but it took H a few days of reviewing the numbers before he felt that we really did have a good deal.
Just to elaborate a little: pulling comps - quick! Preparing a worthwhile CMA, takes more time & evaluation. Then as others said, the buyers may take time to evaluate the information as well.
Hopefully, by now, this is a moot point
Good luck!
Lighthouse State Beach, Santa Cruz.