Long Island Real Estate Fun Fact Friday What Is A CMA?

By
Real Estate Agent with The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803

FUN FACT FRIDAY 

LONG ISLAND REAL ESTATE

 

Long Island Fun Fact Friday is here, courtesy of REALTORS® Lawrence "Larry" and Sheila Agranoff

 

What Is Comparative Market Analysis in Real Estate (CMA)?

 

 

The easiest way to explain a Real Estate Comparative Market Analysis (CMA) is that it estimates a home’s value based on the recent sales of similar real estate in an area. It evaluates a property's current value among those that are currently on the market, and more important, those that have recently sold.

 

Some mistake an CMA for an appraisal. It is not an appraisal. Usually an appraisal is requested by a mortgage broker or a bank to determine what the applicable amount of money they will loan a buyer or investor. They can only be performed by a Certified Real Estate Appraiser who follow the guidelines by the Federal Housing Agency.

 

Using an online home valuation method is not based on the current market. These syndicated sites do not know what condition your home is in, or the updates that have been made compared to others in the neighborhood. The value of your home is much more difficult to predict and the information available to home sellers on the internet can be untrustworthy. 

 

A local Real Estate Agent will research information about the comparable properties in your area. This includes:

  • Properties in your area that have sold and closed recently
  • Active Listings - Properties that are now currently for sale
  • Pending Sales - Listings that have sold but have not yet closed
  • Expired Listings - Properties that did not sell during the listing period

 

A Comparative Market Analysis (CMA) helps you become an informed participant in the Real Estate Market.

 

Do you have questions about buying or selling a Long Island Home or Condo?

 

Call Lawrence "Larry" and Sheila Agranoff to help you with your Long Island Real Estate goals. 

 

We Sell Long Island Real Estate!

 

Lawrence & Sheila Agranoff

Cell: 631-805-4400

 

 

 

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Lawrence "Larry" & Sheila Agranoff are more than just Real Estate Agents. To attain the designation of REALTORS®, we have proven to be more knowledgeable & experienced, above and beyond the average requirements. Being part of the network referred to as REALTORS®, you can be sure we will cater to your Real Estate needs with superior professional practices.

 

 

 
 
If your home is listed with another broker, this is not a solicitation of property. This does not suggest broker has property currently available. Reproduction of text/images contained herein without the express written consent of the authors is strictly prohibited.Sale May Be Subject To Term & Conditions of An Offering Plan.Disclaimer: While information is believed to be accurate it's represented subject to errors, omissions, changes or reliance on information & must be verified by prospective consumer. The authors disclaim liability for any damages/losses, direct or indirect resulting from anything contained herein or the accuracy of comments or opinions of visitors.​©2008-2021
 
 

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Cell: 631-805-4400
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Lawrence “Larry & Sheila Agranoff Are Premier Licensed REALTORS® On Long Island, Experienced In Luxury Properties, 55+Specialists, Residential Home Sales, 1st Time Home Buyer Specialists, Corporate Relocation Expertise, New Construction, Condo/townhouse/co-op Sales, Local, National, International Marketing, And We Know All The Gated Communities On Long Island. We Are 100% Committed To Your Long Island Move!

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Comments (7)

Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Sheila and Larry - it's easy to understand why people can get confused with the many words, terms and acronyms that are used in real estate.  A good real estate connection is important and you understand that on Long Island.   Those who want to make a move there will be well-advised to contact you to discover that themselves.  

Oct 15, 2021 05:53 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Larry and Sheila,

Well done with your explanation!  As a country and society, we have way too many acronyms that we spout!  Happy Friday.  A

Oct 15, 2021 08:00 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Sheila and Larry, great information to share with us here in the Rain.  Make it a great day!

 

Oct 15, 2021 08:36 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Nice explanation of the CMA, Sheila and Larry. I can't tell you how often I get called by someone who wants me to come and to an "appraisal."

Oct 15, 2021 08:38 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is good information to share.

I hope you are having an outstanding week.

Oct 15, 2021 01:12 PM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Thank you for your comments. Happy Fun Fact Friday!

Oct 17, 2021 01:24 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Great post. Yes there are supposed to be comparitive and not creative market analysis - despite how some agents behave. LOL

Oct 17, 2021 04:33 PM