What is a "Market Report" and why you need one?
The terms "Market Report", "Competitive Market Analysis" or "Comparable Analysis" are all terms we use interchangeably. It is a detailed real estate report including active listings currently on the market, contingent or pending sales of properties that are in escrow going through the transfer of title, and recently sold properties within the most recent segment of time, usually within the past six months to a year. Besides the basics of price and date of sale, a Market Report can also provide other important information such as how long a property was on the market before it sold, if the original price was reduced along the way and many other details about the physical aspects of the property and what condition it was in.
It is the data used by appraisers who provide very detailed valuation reports to lenders, real estate attorneys and others to determine the value of a property for the purposes of making loans, going through probate, litigation and many other reasons. Market reports are also used by real estate practitioners to help sellers price their property fairly for current market conditions or to assist Buyers in their negotiating strategy when making offers on a property to purchase. Market Reports can be very helpful to spot real estate trends and is our best tool in predicting where the market is going, in the absence of the proverbial crystal ball we all wish we had!
Simply follow the links below to find your favorite neighborhoods or condo projects and you will be provided the most up to the minute Market Reports which are updated every 15 minutes from our Kauai MLS.
Can't find the neighborhood you want to keep on your radar? Contact Us and we will design a targeted Market Report just for you and even send it to you on a regular schedule of your choosing!