Income Properties Worth

What Are Your Income Properties Worth?

Income property owners who are ready to sell their investments will learn that a comparative market analysis is one of the most important documents in the selling process of Income properties.  The comparative market analysis is one of the most important tools of the real estate industry as it shows property owners in real figures just how much competition they have for selling their Income properties. But this tool can either help you or hurt you when it comes to selling Income properties.  Your real estate agent can use this tool to determine where your property stands in comparison to other similar ones on the local market and also how quickly they sold and what the highest possible selling price might be.  A comparative market analysis can also be used by potential buyers to reduce their offer on purchasing your Income properties.

A comparative market analysis typically is used to give quick bits of information such as number of rooms, approximate square footage, size of major rooms and if there are any amenities, especially for residential Income properties, as well as current property tax amounts, the age of the property and the listing agent contact information.  It is basically a brief overview of all pertinent information regarding your Income properties.  The comparative market analysis includes current sales listings and those that have recently been sold. This information can go back as far as a year ago. The analysis can also cover areas as limited as the streets closest to your Income properties or as broad as an entire city or town.  An Income property comparative market analysis does not cover facts that affect a buyer’s perception and that is why at times Income properties with identical features can sell for radically different prices.  A buyer’s perception is based solely on how they see a property and that is why it is critical that this fact can greatly affect the buying and selling processes.  This is why it is crucial to have a comparative market analysis done so that the value of the Income properties can be ultimately determined by the impact it has on potential buyers.  The impact of your Income properties are based on elements such as curb appeal, the décor of your interior, views from windows, how well light an interior is, the flow of the rooms and literally dozens of other factors.  All of these things help a potential buyer determine if your Income properties are exactly what they are looking for or not.

At the end of a comparative market analysis for your Income properties, the realtor handling the listing will also provide a statement that includes a combination of facts and subjective opinion.  This statement regarding your Income properties includes things such are selling points and selling restrictions.   These include such items as any notes on remodeling done at any time, if an agent must be present at all showings and even their personal opinions on the sale ability of the property.  You must keep in mind that realtors are in the business to sell and some will be more expert at writing up a comparative market analysis for your Income properties than others might be.  Because of privacy reasons, the comparative market analysis that is made available to the public will not contain all of the information written by the agent.  It only lists what is for sell, when it is for sale and where the Income properties are located.  But the information will not include who the seller is and why the Income properties are being sold. This is to protect the privacy of the owner and keep buyers from having an advantage in distressed sales situations of Income properties.

The comparative market analysis is certainly considered a great marketing tool for Income properties, by itself doesn’t sell the property. It takes a skilled and expert realtor to make the comparative market analysis work well.  This is why it must be done by an expert who can interpret the information professionally and correctly.  This will ensure that there is complete objectivity for both the buyer and the seller of Income properties.  As a seller of Income properties, it is important that you take the information placed on the comparative market analysis seriously so that you can get the highest possible price for the sale of your Income properties.  Buyers will use this information to get the best deal possible.