What is a CMA and Why Do We Need One?
What is a CMA and Why Do We Need One?
Larry and Sheila provide very practical advice for home sellers and for home buyers. Every prospective home seller should closely examine the CMA that is used to establish the listing price on their home.
Every home buyer should request a CMA from their exclusive buyer agent before submitting a contract on a home of interest.
What is a CMA and Why Do We Need One?
Here is another homeowner Frequently Asked Question that Larry & Sheila Realtor's are often asked...Question: What is a CMA and Why Do We Need One?
Answer: CMA means Comparative Market Analysis. It is an evaluation of similar, recently sold homes prepared by a Realtor providing data which compares your property to similar properties in your market.
By checking SOLD property records that are similar to your property in the same area, a Realtor will compare these properties to your house and adjust for feature differences like size, condition, location, updates, etc.
An estimate of value is then determined for your property. This would allow an assessment of the current competition and might lead to an increase or decrease in the estimate based on the data found. This is the best way to determine the best listing price for your home with an in-depth analysis of a home's market value in today's market, using closed transactions of comparableproperties.
This is not an appraisal. An appraisal is performed by a licensed appraiser.
The CMA process takes place before your home is listed for sale. This will give a good assessment of what your house could potentially sell for and establishes a fair pricing guide.
~Stay tuned for more Frequently Asked Questions~
Larry and Sheila are Realtors with Charles Rutenberg Realty and when you are ready to buy or sell your home on the North Shore Of Long Island, please contact us at 631-805-4400.
Email: sheila@suffolkexperts.com
If your home or condo is listed with another broker, this is not a solicitation of the property.All The Information Is Not Guaranteed And Must Be Verified By The Prospective Buyer.
Do You Have Questions About Your Long Island Neighborhood? Need More Specific Information On Your Long Island Home or Condo For Purchase Or To Sell?Call Larry And Sheila For More Comprehensive Reporting At 631-805-4400.We Welcome Your Call!
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