Comparative Market Analysis
A Comparative Market Analysis, also known as a CMA, is the most commonly used way of estimating a property’s fair market value. Whether you are buying or selling, the CMA presents a snapshot of the current market and enables buyers and sellers to make the most informed decision regarding value based on location, condition, bedrooms, baths, and square footage.
REALTORS® use a CMA when they conduct an in-depth analysis of a property’s worth in today’s market. Before buying or selling a property, have a Florida Home Realty agent establish the value with a CMA. All Florida Home Realty agents are REALTORS® and experts at property evaluation.
Preparing the Comparative Market Analysis
Your Florida Home Realty agent will analyze the subject property and select similar properties in the area/neighborhood currently on the market for sale.
Similar properties to the subject property that have Sold or Closed within the past 6 months (or greater) will be identified. This information is the most critical as it will determine the value of the property. Once a contract is accepted, the mortgage company’s appraiser will use the same or similar information to determine the value, however in much more detail. If the home does not appraise for the contract price, the lender will deny the loan.
Florida Home Realty agents will counsel buyers and sellers with regard to value. Sellers will want to understand the importance of this information for setting the listing price with their agent. Buyers will be looking at the same information as they prepare the offer with their agent.
Contact Florida Home Realty to have a professional REALTOR® prepare a Comparative Market Analysis of your property today.
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