What is a (CMA) comparative market analysis?<\/h3>\n

A Comparative Market Analysis (CMA) is an evaluation of similar, recently sold homes (called comparables or comps) that are near a home or homes that you want to buy or sell. Buyers, sellers, or real estate agents perform a CMA report to establish and find a fair price range for the home the report is created for. The price range from the CMA can then be used as a guide to be used for establishing an offer price or a listing price.<\/p>\n

Basically, performing a CMA involves finding the homes that are similar to the home under consideration, and creating an in-depth comparison of its size, age, location, and features of the home. It all comes down to one question: compared to other, comparable homes in this area, how much is this home worth? Answering that question involves looking at a fair amount of data on other homes in the current market.<\/p>\n

The process for doing a comparative market analysis includes:<\/strong><\/p>\n

Defining criteria for selecting comparables in close range to the home<\/p>\n

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• Determine a list of quality comparables<\/li>\n
• Evaluate the comparables within close range to the home<\/li>\n
• Adjust comparable values for differences in size, condition, location, amenities, etc<\/li>\n
• Estimate the ideal value of your target home based off the findings<\/li>\n<\/ul>\n\n
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    CMA will be created for this property address<\/div><\/li>
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