458 Princeton Dr.

COMPARATIVE MARKET ANALYSIS
458 Princeton Dr
Dr,, Costa Mesa, California 92626
PREPARED FOR
Scott Nguyen
OCTOBER 26, 2017
Alex and Connor | Villa Real Estate | Mobile: 949.633.7811 | BRE number: 01881729 | AlexandConnor.com | Office: 9494781452 |
Team@AlexandConnor.com
VILLAREALESTATE.COM
WHAT IS A CMA?
No two homes are identical, which is why choosing a sales price or offer price for a home can be
challenging. Thats where the comparable market analysis, or CMA, can be useful.
W H AT I S A C M A?
The CMA is a side-by-side comparison of homes for sale and homes that have recently sold in the
same neighborhood and price range. This information is further sorted by data fields such as single-
family or condo, number of bedrooms, number of baths, postal codes, and many other factors. Its
purpose is to show fair market value, based on what other buyers and sellers have determined through
past sales, pending sales and homes recently put on the market.
H O W I S T H E C M A C R E AT E D ?
CMAs are generated by a computer program supplied by your real estate agents multiple listing
service (MLS). The MLS is available to licensed members only, including brokers, salespeople, and
appraisers, who pay dues to gain access to the services public and proprietary data, including tax roll
information, sold transactions, and listings input by all cooperating MLS members.
Listing agents generate CMAs for their sellers, and buyers agents create them for their buyers so both
sides know what current market conditions are for the homes theyre interested in comparing.
H O W A C C U R AT E A R E C M A S ?
The CMA is a here-and-now snapshot of the market, based on the most recent data available, but it can
instantly be rendered obsolete by a new listing, or a change of status in a home with the same criteria.
Why? The market is constantly changing new listings, pending sales, closed sales, price reductions,
and expired listings.
CMAs can vary widely, depending on the knowledge and skill of the person inputting the search
parameters to the software as well as the number and type of data fields that are chosen. That means
some features may not be included.
As informative as the CMA is, it should only be used as a tool and should not substitute for your real
estate professionals knowledge and advice.
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MAP OF ALL LISTINGS
MLS # S TAT U S ADDRESS PRICE
0 Subject 458 Princeton Dr, Costa Mesa, California 92626

1 NP17086960 S 2538 Carnegie Avenue $650,000
2 NP17116747 S 447 Princeton Drive $685,000
3 NP16151023 S 2554 Carnegie Avenue $760,000
4 OC17037713 S 2410 College Drive $675,000
5 OC17052892 S 2574 Carnegie Avenue $735,000
6 NP17164639 S 2566 Oxford Lane $720,000
7 NP16726458 S 338 Bucknell Road $650,000
8 PW17045171 S 344 Princeton Drive $735,000
9 NP17226166 A 2448 Vassar Place $785,000
Status: S = Closed, A = Active
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SUMMARY OF COMPARABLE PROPERTIES
SOLD LISTINGS
ADDRESS BEDS BA
ATTHS Y R B LLT
T SQFT LOT SIZE PRICE S O L D D AT E
2538 Carnegie Avenue 3 2.00 1956 1,379 6,300 $650,000 6/30/17

447 Princeton Drive 3 2.00 1956 1,378 6,900 $685,000 9/6/17
2554 Carnegie Avenue 3 2.00 1956 1,379 6,300 $760,000 11/22/16
2410 College Drive 3 2.00 1958 1,352 7,200 $675,000 5/5/17
2574 Carnegie Avenue 3 2.00 1956 2,135 6,720 $735,000 5/5/17
2566 Oxford Lane 4 2.00 1957 1,523 6,300 $720,000 9/20/17
338 Bucknell Road 3 2.00 1959 1,815 6,230 $650,000 12/7/16
344 Princeton Drive 4 2.00 1957 1,522 6,180 $735,000 5/4/17
AV E R AG E S 1,560 6,516 $701,250
AC T I V E L I ST I N G S
ADDRESS BEDS BA
ATTHS Y R B LLT
T SQFT LOT SIZE PRICE S O L D D AT E
2448 Vassar Place 3 2.00 1958 1,583 7,400 $785,000

AV E R AG E S 1,583 7, 4 0 0 $785,000
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PROPERTY DETAILS
S 2538 Carnegie A
Avenue
venue,, Costa Mesa $650
$650,,000
LISTING INFORMA
ATTION COURTESY OF RE/MAX FINE HOMES
MLS#: NP17086960 Beds: 3 Sq Ft: 1,379 Sold Date: 6/30/17

Status: Closed Baths: 2.00 Year Built: 1956 DOM: 38
FEA
ATTURES
Community Features
Features: Sidewalks, Street Lighting Cooling
Cooling: Central Flooring
Flooring: Carpet, Vinyl Heating
Heating:
Forced Air Land LLease
ease Amount
Amount: 0 Land LLease
ease T
Transfer
ransfer Fee
Fee: 0 Levels
evels: One Listing T Terms
erms: Cash
To Existing Loan Lot Features
Features: Lot Shape-Rectangular Pool Features
Features: None Room T Type
ype: All
Bedrooms Down Special Listing Conditions
Conditions: Standard Utilities
Utilities: Sewer Connected View View: None
Senior Community Y Yes/No
es/No: No Property A Attached
ttached Y
Yes/No
es/No: No Land Fee/LFee/Land
and LLease
ease: Fee Lotsize
otsize:
6300 Acres
Acres: 0.14
REMARKS
This College Park home, The Corona model has been kept in 50's style. Living room has skylight and corner slump stone
fireplace which gives opportunity for great room open floor plan. Big spacious kitchen with eating bar counter. Kitchen
opens to family room and has direct access to breezeway. Dining area open to kitchen and living room with view of
private back yard. Home has central air condition. Mostly original bathrooms still have colorful sinks with marble pullman
tops. Private back yard has big tree for great shade. 2 car garage has roll up door. Newer cement driveway. Home needs
tlc.
Information is deemed reliable but not guaranteed.
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LISTING PHOTOS
S 2538 Carnegie A
Avenue
$650,,000
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PROPERTY DETAILS
S 447 Princeton Drive

Drive,, Costa Mesa $685,
$685,000
000
LISTING INFORMA

FEA
ATTURES
Community Features
Features: Curbs, Sidewalks, Street Lighting Cooling
Cooling: Central Heating
Heating: Forced Air Land
Lease Amount
ease TTransfer
ransfer Fee
Fee: 0 Levels
evels: One Listing TTerms
erms: Cash, Cash To New
Loan, Conventional, FHA, VA Lot Features
Features: Lot Shape-Rectangular Pool Features
Features: Private, Fenced
Room TType
ype: All Bedrooms Down Special Listing Conditions
Conditions: Standard View
View: None Senior
Community Y Yes/No
ttached YYes/No
es/No: No Land Fee/L
Fee/Land
and LLease
ease: Fee Lotsize
otsize: 6900
Acres
Acres: 0.15
REMARKS
College Park 3 bedroom 2 bathroom pool home. Great floor plan with view of private back yard from living room and
dining area. Living room has dual fireplace, skylight, vaulted ceilings and new carpeting. Original kitchen has eating
counter open to living room and leads to laundry area and garage. Family room or dining room has dual fireplace.
Beautiful remodeled guest bath. Shower/tub has subway tiles with colorful accent tiles. Dual sink vanity, slate floor and
decorative lighting. Home has vaulted scraped ceilings, central air conditioning, dual pane windows and dual pane
sliding glass door and new carpet. Home has great entertaining back yard with private sparkling pool with removable
fence with walk through gate. Yard has covered patio and play area and garden box.
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LISTING PHOTOS

$685,000
000
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PROPERTY DETAILS
S 2554 Carnegie A
Avenue
$760,,000
LISTING INFORMA

FEA
ATTURES
Community Features
Cooling: None Flooring
Flooring: Carpet, Wood
Heating
Heating: Forced Air Interior Features
Features: Crown Moldings, Recessed Lighting, Wainscoting Land
Lease Amount
Amount: 0 Levels
erms: Cash, Cash To New Loan, Submit Lot Features
Features: Lot
Shape-Rectangular, Sprinkler System Patio And P Porch
orch Features
Features: Patio Open, Patio Pool Features
Features:
Private Roof
oof: Composition Room T Type
ype: All Bedrooms Down, Living Room, Master Bedroom, Main
Floor Master Bedroom Spa Features
Features: None Special Listing Conditions
Utilities: Sewer
Connected View
View: None
REMARKS
Beautiful remodeled College Park Pool Home with open floor plan! Remodeled kitchen with white cabinets, granite
counters, garden window and stainless steel appliances. Kitchen has eating counter with butcher block counter.
Beautiful wood floors throughout living room, dining room and kitchen. Living room has recessed lights and beautiful
stone wood burning fireplace. Open floor plan provides great view of private pool from kitchen, dining area and living
room. Master bedroom has french door with window leading to the private back yard. Beautiful remodeled and
expanded master bathroom. Master bathroom has elegant tiled shower with accent design and all glass doors. Spacious
with double sink vanity and linen closet. Guest bathroom has been remodeled with large vanity and tile with accent
design. Home has 6 panel doors, dual pane windows and sliding glass door. Home has vaulted ceilings,...
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LISTING PHOTOS
S 2554 Carnegie A
Avenue
$760,,000
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PROPERTY DETAILS
S 2410 College Drive

$675,000
000
LISTING INFORMA
ATTION COURTESY OF NEW DIMENSION INVESTMENT PROP
MLS#: OC17037713 Beds: 3 Sq Ft: 1,352 Sold Date: 5/5/17

FEA
ATTURES
Community Features
Features: Curbs Cooling
Cooling: Central Heating
Heating: Central Furnace Land LLease
ease Amount
Amount: 0
Land LLease
ease TTransfer
ransfer Fee
Fee: 0 Levels
evels: One Listing T
Terms
erms: Cash, Cash To Existing Loan Lot Features
Features:
0-1 Unit/Acre, Back Yard, Lawn, Value In Land Pool Features
ype: Basement, Kitchen,
Laundry Special Listing Conditions
View: Neighborhood Senior Community Y Yes/No
es/No:
No Property A Attached
ttached Y
Yes/No
es/No: Yes Land Fee/L
Fee/Land
and LLease
ease: Fee Lotsize
otsize: 7200 Acres
Acres: 0.16
REMARKS
Hard to find College Park home. Hurry on this three bedroom two bath home with an extra room that can be used as a
den or possibly a fourth bedroom. Great location. Property needs TLC and could make an excellent starter home for
your first time buyers. Currently occupied by tenant who pays $2200 per month and would like to stay if you have an
investor client. Large backyard, all new vinyl windows. Submit all offers as Seller is motivated! Call tenant for an
appointment to show.
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LISTING PHOTOS
S 2410 College Drive

$675,000
000
VILLAREALESTATE.COM
PROPERTY DETAILS
S 2574 Carnegie A
Avenue
venue,, Costa Mesa $735,
$735,000
000
LISTING INFORMA
ATTION COURTESY OF THE L3
MLS#: OC17052892 Beds: 3 Sq Ft: 2,135 Sold Date: 5/5/17

FEA
ATTURES
Community Features
Features: Gutters, Sidewalks, Street Lighting Cooling
Flooring: Carpet,
Laminate Heating
Heating: Forced Air Interior Features
Features: Cathedral-Vaulted Ceilings, Pantry Land LLease
ease
Amount
ease TTransfer
ransfer Fee
Fee: 0 Levels
evels: Three Or More Listing TTerms
erms: Cash, Conventional,
FHA, VA Lot Features
Features: Back Yard, Yard Patio And P Porch
orch Features
Features: Concrete, Patio, Slab Pool
Features
ype: All Bedrooms Down, Bonus Room, Kitchen, Laundry, Living Room, Main
Floor Bedroom, Main Floor Master Bedroom Spa Features
Conditions:
Standard
REMARKS
Beautiful single story College Park home with a uniquely oversized bonus room! This home offers so many special
features starting with its long driveway that allows for tandem, RV, and/or boat parking. In addition, the garage also offers
the drive-through feature to your backyard with a 2nd garage door in the back. Inside the home you will find some more
unique features like a private mud room/ laundry room off the kitchen with direct access to the garage. Back inside, you
will see an open floor plan with built-in cabinets, vaulted ceilings, dual pane windows, new carpet, and new blinds. The
kitchen right off the front door opens up to your breakfast bar, dining room and massive bonus room. The bonus room
has a tremendous amount of space with vaulted ceilings and wall to wall carpeting. It can be a multifunction room or
perfect as a game room or family room. This property is perfect...
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LISTING PHOTOS
S 2574 Carnegie A
Avenue
venue,, Costa Mesa $735,
$735,000
000
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PROPERTY DETAILS
S 2566 Oxford LLane

ane,, Costa Mesa $720
$720,,000
LISTING INFORMA

FEA
ATTURES
Community Features
Flooring: Carpet, Laminate
Interior Features
Features: Formica Counters, Unfurnished Land LLease
ease Amount
ease T
Transfer
ransfer Fee
Fee:
0 Levels
erms: 1031 Exchange, Cash, Cash To New Loan, Conventional Lot
Features
Features: Front Yard, Lot Shape-Rectangular Patio And P Porch
orch Features
Features: Concrete, Patio Pool
Features
Features: None Roof oof: Composition Room T Type
ype: All Bedrooms Down, Den, Kitchen, Living Room,
Main Floor Bedroom, Main Floor Master Bedroom Special Listing Conditions
Utilities:
Sewer Connected View View: None
REMARKS
Popular "The Mesa" model with a 4 bedroom, two bath floor plan currently used as 3 bedrooms plus den. Den opens to
living room and has built-in cupboards, desk and closet and can easily be converted to 4th bedroom. Great original retro
home, super clean, in original condition on a great interior street in College Park. Original atomic-age swag lamps and
fixtures. Brick fireplace is dual-sided that is shared by the living room and dining area. Big kitchen with lots of cupboards,
electric range, dishwasher, and oven built into brick fireplace. Guest bathroom has dual sinks and new beautifully tiled
shower/tub combo. Home has vaulted scraped ceilings and ADT alarm system. Spacious living room has view of great
private back yard through large sliding glass door. Back yard has orange, lemon, kumquat, and persimmon trees, and a
160 sq. ft. raised vegetable garden. Garage has electric door ...
VILLAREALESTATE.COM
LISTING PHOTOS
S 2566 Oxford LLane

ane,, Costa Mesa $720
$720,,000
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PROPERTY DETAILS
S 338 Bucknell R
Road,
oad, Costa Mesa $650
$650,,000
LISTING INFORMA

FEA
ATTURES
Community Features
Features: Curbs, Sidewalks Cooling
Cooling: None Heating
Heating: Central Furnace, Fireplace Land
Lease Amount
Amount: 0 Levels
evels: One Listing T
Terms
erms: Conventional Lot Features
Features: Ranch Pool Features
Features:
None Roofoof: Composition Room T Type
ype: All Bedrooms Down Spa Features
Features: Above Ground Special
Listing Conditions
View: None Lotsize
otsize: 6230
REMARKS
Popular floor plan with 3 big bedroom. Living room has white brick fireplace with big hearth. Living room windows have
remote controlled blinds. Dining room area opens to kitchen and family room and has brick fireplace. Family room
addition has fireplace and lots of windows with view of trees and private back yard and direct access to garage. Master
bathroom has direct access to private spa. Wall paper throughout home. Home is in original condition and ready for you
to remodel. Kitchen has direct access to garage which has roll up garage door with accent windows. Driveway is cement
with brick accent. Great interior track location.
VILLAREALESTATE.COM
LISTING PHOTOS
S 338 Bucknell R
Road,
oad, Costa Mesa $650
$650,,000
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PROPERTY DETAILS

$735,000
000
LISTING INFORMA
ATTION COURTESY OF CENTURY 21 MASTERS
MLS#: PW17045171 Beds: 4 Sq Ft: 1,522 List Date: 3/6/17

Status: Closed Baths: 2.00 Year Built: 1957 Sold Date: 5/4/17
FEA
ATTURES
Community Features
Features: Gutters, Sidewalks, Street Lighting Cooling
Cooling: None Heating
Heating: Central Furnace
Land LLease
ease Amount
ease TTransfer
ransfer Fee
Fee: 0 Levels
erms: Cash To New
Loan Lot Features
Features: Back Yard, Front Yard Pool Features
ype: All Bedrooms Down,
Family Room, Kitchen Special Listing Conditions
View: Neighborhood Senior
Community Y Yes/No
ttached YYes/No
es/No: No Land Fee/L
Fee/Land
and LLease
ease: Fee Lotsize
otsize: 6180
Acres
Acres: 0.14
REMARKS
You will know you are home the minute you walk into 4 bedroom 2 bath ranch style home. The open kitchen has ample
storage with oak cabinets and an extra long countertop with bar and seating. Large, glass sliding doors, newer windows,
screens and vaulted ceilings give this home a bright welcoming feeling throughout. You dont want to miss out, this home
has it all!
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PROPERTY DETAILS
A 2448 V
Vassar
assar Place
Place,, Costa Mesa $785,
$785,000
000
LISTING INFORMA
ATTION C O U R T E S Y O F B E R K S H I R E H AT H AWAY H O M E S E R V I C E
MLS#: NP17226166 Beds: 3 Sq Ft: 1,583 List Date: 10/2/17

Status: Active Baths: 2.00 Year Built: 1958 DOM: 15
FEA
ATTURES
Community Features
Features: Curbs, Street Lighting Cooling
Cooling: Central Flooring
Flooring: See Remarks Heating
Heating:
Central Furnace, Fireplace Interior Features
Features: Ceiling Fan Land LLease
ease Amount
Amount: 0 Land LLeaseease
Transfer Fee
Fee: 0 Levels
erms: Cash To New Loan Lot Features
Features: 0-1 Unit/Acre, Corner
Lot, Cul-De-Sac Pool Features
Features: None Roof oof: Composition Room T Type
ype: All Bedrooms Down, See
Remarks Spa Features
Utilities: See Remarks View
View:
None Senior Community Y Yes/No
ttached Y
Yes/No
es/No: No Land Fee/LFee/Land
and LLease
ease: Fee
Lotsize
otsize: 7400
REMARKS
Hurrythis single story home located in one of Costa Mesa's most desirable neighborhoods will not last long on the
market. 2448 Vassar Pl is a 3 bedroom 2 bathroom home situated on a quiet cul de sac in College Park on a large
corner lot. You will love the upgraded kitchen with white cabinets, butcher block counters and stainless steel appliances.
In addition, the home features AC, new shutters in the bedrooms and in the last two years, a new garage door, new roof,
along with a fresh coat of exterior paint. Dont miss this opportunity to buy a single family home which is just minutes from
Newport Mesa schools, shops, restaurants, freeways and the beach.
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LISTING PHOTOS
A 2448 V
Vassar
assar Place
Place,, Costa Mesa $785,
$785,000
000
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COMPARABLE PROPERTY STATISTICS
SOLD LISTINGS
Number of listings 8
Lowest price $650,000
Average price $701,250
Highest price $760,000
Avg price per sqft $460
Avg DOM 30
AC T I V E L I ST I N G S
Number of listings 1
Lowest price $785,000
Average price $785,000
Highest price $785,000
Avg price per sqft $496
Avg DOM 15
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SOLD PROPERTY ANALYSIS
ADDRESS LIST PRICE SOLD PRICE % OF LIST PRICE DOM $ PER SQFT
2538 Carnegie Avenue $689,000 $650,000 94.3% 38 $471

447 Princeton Drive $700,000 $685,000 97.9% 65 $497
2554 Carnegie Avenue $775,000 $760,000 98.1% 17 $551
2410 College Drive $729,000 $675,000 92.6% 38 $499
2574 Carnegie Avenue $750,000 $735,000 98.0% 29 $344
2566 Oxford Lane $739,000 $720,000 97.4% 19 $473
338 Bucknell Road $674,900 $650,000 96.3% 8 $358
344 Princeton Drive $735,000 $735,000 100.0% 0 $483
S O L D AV E R AG E S $723,988 $701,250 96.9% 30 $460
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INTELLIGENT PRICING AND TIMING
Pricing a home for sale is as much art as science, but there are a few truisms that never change.
Fair market value attracts buyers, overpricing never does.

The first two weeks of marketing are crucial.
The market never lies, but it can change its mind.
Fair market value is what a willing buyer and a willing seller agree by contract is a fair price for the
home. Values can be impacted by a wide range of reasons but the two largest are location and
condition. Generally, fair market value can be determined by comparables - other similar homes that
have sold or are currently for sale in the same area.
Sellers often view their homes as special which tempts them to put a higher price on the home,
believing they can always come down later, but thats a serious mistake.
Overpricing prevents the very buyers who are eligible to buy the home from ever seeing it. Most buyers
shop by price range, and look for the best value in that range.
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INTELLIGENT PRICING AND TIMING
Your best chance of selling your home is in the first two weeks of marketing. Your home is fresh and
exciting to buyers and to their agents.
With a sign in the yard, a description in the local Multiple Listing Service, distribution across the Internet,
open houses, brokers caravan, ads, and email blasts to your listing agents buyers, your home will get
the greatest flurry of attention and interest in the first two weeks.
If you dont get many showings or offers, youve probably overpriced your home, and its not comparing
well to the competition. Since you cant change the location, youll have to improve the homes
condition or lower the price.
Consult with your agent and ask for feedback. Perhaps you can do a little more to spruce up your
homes curb appeal, or perhaps stage the interior to better advantage.
The market can always change its mind and give your home another chance, but by then youve lost
precious time and perhaps allowed a stigma to cloud your homes value.
Intelligent pricing isnt about getting the most for your home its about getting your home sold quickly
at fair market value.
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HOW CMAS CAN VARY
Whether you are buying or selling a home, your real estate professional can give you a snapshot of the
local market known as the competitive or comparative market analysis or CMA.
CMAs are generated from multiple listing service data. Theyre convenient reports that help sellers
choose a listing price and buyers to make offers on a given home.
CMAs vary greatly depending on the search parameters that are input by the real estate professional,
by type of home (detached vs. attached), postal code or by street, number of bedrooms, baths and
living areas, square footage, and numerous other search criteria.
They also tell you which homes have recently sold - six months, three months, one month, and which
homes are currently on the market in the area and price range youre interested in. As many fields of
information as there are, some criteria simply cant be listed in a CMA. If the MLS has a field for ocean
views, youll know. But if not, youll have to learn more in the remarks section that is filled in by the
listing agent. There you might find great views. But who is to say what makes a great view?
C M A S R E S U LT S M AY VA R Y E V E N B E T W E E N I D E N T I C A L H O M E S
One property may simply offer better drive-up appeal or is in better condition than the other, and that
will be reflected in the sales price.
Last, buyer and seller motivation cant be quantified. You dont know why a seller agreed to take less for
their home or why a buyer paid more for another home. Family problems, corporate relocations and
other reasons all play a role. What you can learn from the CMA is how long the home took to sell. If it
was quick, the seller was highly motivated. If it didnt, it was probably overpriced.
CMAS ARE TOOLS

For these reasons, CMAs are not home valuations. They are tools to use alongside your real estate
professionals knowledge of the market. They may have house-to-house knowledge of the market and
be able to tell you why they think one home sold for more than another.
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CMAS VS APPRAISALS
M A R K E T VA L U E
Establishing a homes market value is equally important to buyers, sellers, lenders and real estate
professionals so that transactions can proceed quickly and efficiently. A real estate professional may
prepare a comparative or comprehensive market analysis (CMA) for their sellers to help them choose a
listing price. The CMA includes recently sold homes and homes for sale in the sellers neighborhood
that are most similar to the sellers home in appearance, features, and general price range.
H O M E VA L U E
Although the CMA is used to help determine current market value, it does not establish the sellers
home value. In fact, the sellers home is typically not even featured in the CMA. The CMA is merely a
guide to help the seller learn whats happening in their local market, so they can better understand
where their home fits in term of price ranges, based on location, features and condition. Once the home
is listed on the open market, a buyer makes an offer, usually based in part on a CMA the buyers agent
has prepared. CMAs can help buyers better understand the local market as well as sellers. If the buyer
is receiving financing through a bank, the bank will order an appraisal. Unlike the CMA, a bank appraisal
is a professional determination of a homes value. Its performed by a licensed appraiser, using
guidelines established by the Federal Housing Finance Agency, which regulates federal housing loan
guarantors such as FHA, VA and housing loan purchasers Fannie Mae and Freddie Mac.
APPRAISAL
An appraisal is a comprehensive look at a homes location, condition, and eligibility for federal
guarantees. For example, a home that doesnt meet safety requirements such as handrails on steps will
not be eligible for FHA or VA loans until the handrail is installed or repaired. Appraisers use the same
data in their market research to find comparable homes as REALTORS do. They are also members of
the MLS, but they also have additional guidelines from the bank to follow that minimize risk to the bank.
They may take off value for slow-moving markets, or markets with high rates of foreclosures. If prices
are falling, the appraiser takes the number of days a home has been on the market far more
conservatively.
When the appraisal is finished, the bank makes the decision to fund the loan, or it may require the seller
to fix certain items and show proof that the repairs have been made before letting the loan proceed. If
the loan doesnt meet lending guidelines, the bank will decline the loan. Despite stricter lending and
appraisal standards, most buyers loan applications go through to closing nearly 85 percent. One
reason for that is that real estate agents are preparing CMAs that are better tuned to lending standards,
for sellers and buyers to better understand not only what the market is doing, but how much lenders
are willing to finance.
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THE VALUE OF YOUR HOME
In a neighborhood of similar homes, why is one worth more than another? Thats the question thats
teased buyers and sellers for ages, but the answer is simple.
E V E R Y H O M E I S D I F F E R E N T.
When a home is sold, a willing seller and a willing buyer have just announced to the world the value of
that home. From there, other similar homes are benchmarked, but other factors come into play. The
most important are:
Location - The closer a home is to jobs, parks, transportation, schools, and community services, the
more desirable it is.
Size - Square footage impacts home values because theyre built using more materials. Larger lot sizes
mean more privacy.
Number of bedrooms and baths - Over time, median homes have grown larger. Decades ago,
household members shared bedrooms and baths without complaint, but today, families want more
privacy. The median home purchased today is a three-bedroom, two-bath home.
Features and finishes - Features such as outdoor kitchens and spa baths make a home more luxurious.
A home finished with hardwood floors and granite countertops is going to cost more than a home with
carpet and laminate countertops.
Condition - The closer a home is to new construction, the more it will retain its value. Its perceived as
more modern, up to date, and perhaps safer. Homes that are not updated or in poor repair sell for less.
Its a good idea for homeowners to keep their homes updated and in top repair.
Curb appeal - From the street, the home looks clean, fresh, and inviting. Fresh landscaping and flowers
wont change the size or location, but they certainly add charm.
When two homes are identical in the same neighborhood, a higher price may come down to something
as simple as views, or paint colors, or the overall taste of the homeowner.
Valuing a home will never be an exact science, but if you buy wisely, keep your home updated and in
good repair, you should recoup most if not all of your investment.
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458 Princeton Dr.

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COMPARATIVE MARKET ANALYSIS

MLS # S TAT U S ADDRESS PRICE

0 Subject 458 Princeton Dr, Costa Mesa, California 92626

2538 Carnegie Avenue 3 2.00 1956 1,379 6,300 $650,000 6/30/17

2448 Vassar Place 3 2.00 1958 1,583 7,400 $785,000

MLS#: NP17086960 Beds: 3 Sq Ft: 1,379 Sold Date: 6/30/17

Information is deemed reliable but not guaranteed.

S 447 Princeton Drive

MLS#: NP17116747 Beds: 3 Sq Ft: 1,378 Sold Date: 9/6/17

Information is deemed reliable but not guaranteed.

S 447 Princeton Drive

MLS#: NP16151023 Beds: 3 Sq Ft: 1,379 Sold Date: 11/22/16

Information is deemed reliable but not guaranteed.

S 2410 College Drive

MLS#: OC17037713 Beds: 3 Sq Ft: 1,352 Sold Date: 5/5/17

Information is deemed reliable but not guaranteed.

S 2410 College Drive

MLS#: OC17052892 Beds: 3 Sq Ft: 2,135 Sold Date: 5/5/17

Information is deemed reliable but not guaranteed.

S 2566 Oxford LLane

MLS#: NP17164639 Beds: 4 Sq Ft: 1,523 Sold Date: 9/20/17

Information is deemed reliable but not guaranteed.

S 2566 Oxford LLane

MLS#: NP16726458 Beds: 3 Sq Ft: 1,815 Sold Date: 12/7/16

Information is deemed reliable but not guaranteed.

S 344 Princeton Drive

MLS#: PW17045171 Beds: 4 Sq Ft: 1,522 List Date: 3/6/17

Information is deemed reliable but not guaranteed.

MLS#: NP17226166 Beds: 3 Sq Ft: 1,583 List Date: 10/2/17

Information is deemed reliable but not guaranteed.

2538 Carnegie Avenue $689,000 $650,000 94.3% 38 $471

Fair market value attracts buyers, overpricing never does.

CMAS ARE TOOLS

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