| The most common way a home is given an | | | | is where the agent's experience can help you. It is |
| approximate value is a Comparative Market Analysis | | | | VITAL that you first find a good agent, and second, |
| (CMA). Most real estate agents will do a CMA as a | | | | that you take their advice when they give you an |
| free service for any prospective client. The CMA is | | | | estimated value on your home. Agents are not |
| determined by pulling comparable properties in your | | | | emotionally or personally attached to your home. |
| general area that have sold in the past 4-6 months. | | | | You, as the owner and occupier of the home for |
| The properties are assessed for selling price, time on | | | | years, are most certainly! If you watched your kids |
| the market, improvements, square footage, and | | | | grow up in the home, celebrated birthdays there, had |
| other variations that are then used to give an | | | | family gatherings, and painted the walls bird-egg blue |
| approximate value of your home. Because real estate | | | | 10 years ago, you definitely have value in this home |
| markets change rapidly, a CMA can be out of date in | | | | that cannot be expressed in dollars. That value, while |
| a few months in some markets. It is always | | | | priceless to you, has no worth to a prospective |
| important to have a current CMA when considering | | | | buyer. That is why YOU should never attempt to |
| the sell of your home. | | | | price your own home. Let someone who has no |
| CMAs, while based on data, are still very subjective. | | | | attachment to your property take on this task. That |
| When looking at comparable properties it may be | | | | is, unless you want the home to sit and languish on |
| hard to account for things such as curb appeal, | | | | the market for much longer than necessary. |
| desirability of the home's architectural style, etc. This | | | | |