Lifestyles over 50 Finance & Money
What is a Comparative Market Analysis?
The Comparative Market Analysis (CMA) is used to help evaluate how your home stacks up against the similar homes in your area. It looks at homes that are currently listed and those recently sold. The purpose is to find the highest price that will still make the home competitive on the open market.
A Portrait Of Your Home And Its Surroundings
The CMA includes the details about your house such as the number of bedrooms and baths, approximate square footage, size of major rooms, age of the home, property taxes, and desirable amenities such as fireplaces and pools.
Depending on the market the CMA will go back in time as long ago as a year or a month or week ago. Some will just cover a few streets around your home, CMAs can cover areas as narrow as one or two streets surrounding your home, or as broad as an entire subdivision. At the end of each home’s information on the CMA report there will be a statement written by the listing agent that will address some of these subjective factors such as recent remodels, historic features, or things that might be of interest to the buyers.
Why do I need a CMA?
Simply put a CMA gives you facts to work with and eliminates a lot of guesswork. It gives you confidence that you have a home’s true value. Your agent can now negotiate fairly and honestly.
If You Want a Free Comparative Market Analysis
Elissa Clausnitzer, SRS, is a licensed Realtor with Weichert Realtors and has over 30 years of experience in real estate. She specializes in helping boomers and seniors achieve their goals in their next step in life. For a free Comparative Market Analysis you can call her at 610-573-0386.