CMA- Comparative Market Anayisis

    What is a CMA or Comparative Market Analysis?           

 

    A CMA will help to find a fair market value for your property and help decide the proper listing price for your home.

 

FAIR MARKET VALUE HAS BEEN DEFINED AS:

 

    The highest price estimated in terms of money which the property will bring when the property is exposed for sale in the open market by a willing seller, allowing time to find a willing buyer, neither buyer nor seller acting under compulsion, both having full knowledge of all the uses and purposes to which the property is adapted and for which is capable of being used.

 

    This market value definition presupposes perfect knowledge on the part of the buyer and seller. Since this perfect world rarely exists, our estimate of price is generally indicated as a range.

 

    In evaluating your property we use many of the tools that a professional appraiser utilizes: comparable sales, competitive listings in escrow, square footage, location, amenities, and the general condition of the property. We also consider the effect

of any existing financing on the property.

 

    The data we include is researched from reliable information currently available from the local Association of Realtors, local real estate firms, and title companies. It does not reflect every property of comparable value for sale at the time of the CMA but does represent a good cross section of the comparative real estate inventory and recent sales.

 

    Note that while usually none of the properties included in a CMA are exactly like yours, unless you live in a PUD where houses are essentially the same, they do provide a good reference of the comparative market analysis.

 

    The estimated value range we suggest for your property does not mean that the sale of the property could not occur at a higher price. The price you ultimately receive, of course, will depend on your motivation, the motivation of the buyer, and market conditions at the time offers are received.

 

    And of course your successful home sale will also depend on the qualifications of your Realtor. Call me for your comparative market analysis today.

 

jch