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What is a Comparative Market Analysis

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rapidly, a CMA can be out of date in a fewhave value in this home that cannot be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



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