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How Can a CMA Help You in Your Home Purchase?
What is a CMA?
1. A Comparative Market Analysis
2. A Competitive Market Analysis
Actually, both of these definitions apply. 
A CMA is a report prepared by a real estate agent to determine the value of a home.   
When you sell your home, a listing broker will do a CMA to establish what the current value is and what the list price should be.  This is done by looking at homes that have sold recently and weighing them against your home to arrive at a competitive price. 
By the same token, the CMA is extremely valuable to your buyer broker when you are looking at homes to purchase.  It is a highly effective tool that can help you decide on the right price to offer on a property. 
The way a Comparative Market Analysis works is really quite simple.  Your buyer broker takes the subject home, or the home you intend to make an offer on, and pulls up three or more recently sold properties in the same neighborhood with as many of the same characteristics as possible.  Through an examination of the home's style, square footage, number of bathrooms, type of setting, i.e., cul de sac vs. a main street, comparisons are made to the subject ... more

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