Tuesday comes to a close…

I certainly learned a lot today. Thank you to Shannon for teaching me all about CMAs and thank you to Mitch for getting us together today. She told me about gathering information from the Bexar County Appraisal District (BCAD) and use that knowledge to figure out the square footage of the house and the neighborhood it’s in. Then she told me how her office uses MLS (Multiple Listings Service) to build accurate CMA (Cost Market Analysis). I won’t be able to use the MLS because I’m not a realtor, nor do I work for one, but it is a great option for those of you that do have access to the MLS. Hopefully in the future I will be in the right position to have access myself! Then she explained how I could harvest the same information myself with a little leg work. If I drive the neighborhood I’m interested in and checkout all the houses for sale and get the info. on them, I could build my own CMA from there. It makes sense, but takes a little longer. No hill for a stepper I say. Then I use that information to decide how much to offer on the house and to know how much I can expect to make on the sale of the house. It’s very interesting information and when you cut through the extras, it’s actually a fairly simple process at its roots. The complexities come in the details, the saying goes that the devil is in the details and here is living proof. You can make it as quick as you want or as in-depth and time consuming as you want…your call. If you have questions or want more details, just hit the discussion forum and Shannon has agreed to answer any of your questions. Have a great night and we’ll be back at it in the morning…back to http://www.wealthaddress.com/.