Comparative market analysis allows us, as a team, to examine both the current market and the immediate past market in an effort to determine a realistic selling price.
This is done by examining 3 major factors:
1. Similar homes currently on the market (active listings)
2. Properties recently on the market that did not sell (expired or withdrawn listings)
3. Listings that have recently closed (sold properties)
These three factors will reveal your competition today, what buyers were not willing to pay, and most importantly what buyers were willing to pay. The lender’s appraiser will actually study the sold properties to determine if the property has the appropriate condition and value necessary for the mortgage.
The Melton Team has been selling homes in the Richmond area for over 8 years. We pride ourselves on being the internet real estate experts in the area. We sell single family homes, new homes, townhomes, condos, land and more. We service the following areas: Henrico, Hanover, Mechanicsville, Chesterfield and more. If we can’t offer you what you need, we’ll be glad to find someone who can!
5388 Discovery Park Blvd Suite 110 Richmond, VA 23233 Erin Melton - Licensed In The State Of Virginia RE/MAX Peninsula Each Office Independently Owned and Operated Erin - 804.335.8572 Fax: 1.866.737.9752 Email: meltonteam@gmail.com
