HOME EVALUATION
Home Evaluation Estimate
THE COMPARATIVE MARKET ANALYSIS (CMA)
To determine your home's value, consulting with a professional is the most effective approach. You can hire a certified appraiser for an official appraisal, or request a Comparative Market Analysis (CMA) from a realtor. It's important to note that a CMA is not an official appraisal and should not be regarded as one. A CMA is a detailed report prepared by a realtor with access to the Multiple Listing Service (MLS) database, examines recent sales and current listings in your area to compare how your home measures up. For sellers, a CMA enables them to determine a fair asking price, which can increase the chances of a successful sale, better odds for buyers lender appraisal to not fall short. On the other hand, buyers can use a CMA to gauge whether a property is overpriced and negotiate a fair deal. Overall, the CMA plays a crucial role in the real estate transaction process. Although active listings do not establish market value until sold, a CMA helps sellers decide whether to price aggressively or competitively, ensuring their listing stands out positively among the competition.
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