Frequently Asked Questions In Real Estate
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What is a CMA?
How do I protect my credit?
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What is a CMA?
If you are considering selling your home, a CMA, or comparative market analysis, prepared by a professional Realtor can be a valuable tool in setting the market appropriate listing price. In today's fast moving market, you may be leaving money on the table if you do not have an agent who prepares a written, up-to-date analysis of your home's current market value. Do not list your home for sale without requesting and receiving a comprehensive CMA report.
A CMA is not an appraisal, (which would be done by a licensed Appraiser), but should give you accurate information on your home's value relative to other properties of similar size and amenities that have recently sold. In addition, the CMA should compare your home with similar homes that are currently offered for sale, so you know what your competition will be. The CMA will compare factors that may affect the price of your home such as number of bedrooms and baths, size, amenities, age and location. Resources available for Realtors to use in their research include County Assessor's records and the MLS (Multiple Listing Service).
At Coldwell Banker Best Sellers, we offer CMA reports as a free, no obligation service. To obtain a CMA from one of our sales professionals (absolutely no obligation!), give us a call today.
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How do I protect my credit?
As one of the very first steps in obtaining a loan to purchase a home, your loan officer will order a credit report. Unfortunately, we have the occasional borrower who finds out for the first time that they may be a victim of credit fraud or identity theft. Here are a few tips that may help you to protect yourself:
1. Make a photocopy of the front and back of the entire contents of your wallet, and keep it in a secure place. The back of each of your credit cards has a toll free number for reporting possible fraud. If your wallet is lost or stolen, this will save you valuable time in reporting to each creditor.
2. Do not sign the back of your credit cards. Instead print in the signature space in large block letters, in indelible ink "Photo ID Required".
3. Do not keep your social security card in your wallet, and never allow your social security number to be printed on checks or drivers license.
4. Check your own credit, you are entitled to do this once a year free of charge.
If your wallet is stolen or lost:
1. File a police report immediately.
2. Call each credit card company on your photocopy list and report your card as stolen.
3. If checks or an ATM card are missing, call your bank and report it.
4. Call all three major credit bureaus and place a "fraud alert" on your name and social security number. The alert means any company that checks your credit knows your information was stolen, and they have to contact you by phone to authorize new credit.
The toll free numbers for the 3 major credit bureaus are: Equifax: 1-800-525-6285; Experian (TRW): 1-888-397-3742; TransUnion: 1-800-680-7289, and the Social Security Administration fraud line is: 1-800-269-0271.
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