CMA is real estate shorthand for "Comparative Market Analysis." A CMA is a report prepared, providing data comparing your property to similar properties in the marketplace.
I'll obtain data on comparable properties. This data is usually available through MLS (Multiple Listing Service) along with Rossmoor Realty's more in-depth data bank, including our exclusive sales, of the most current values. This will give me an idea how much your property is worth in the current market. Please note that the CMA is not an appraisal. An appraisal must be performed by a licensed appraiser.
I'll inspect your property. Generally, this inspection won't be overly detailed (I won't crawl under the house to examine the foundation), nor does the house need to be totally cleaned up and ready for an open house. It should be in such a condition that I will be able to make an accurate assessment of its condition and worth. If you plan to make changes before selling, let me know that at this time.
The CMA is a good assessment of what your house could potentially sell for.
CMAs are not only for prospective sellers. Buyers should consider requesting a CMA for properties they are seriously looking at to determine whether the asking price is a true reflection of the current market. Owners who are upgrading or remodeling can benefit from a CMA when it's used to see if the intended changes will "over-improve" their property compared to others in the neighborhood.
copyright © Agent Image 2001
<<Back To Buyers/Sellers