Comparative Market Analysis

“CMA" is an abbreviation real estate agents use for a Comparative Market Analysis. A CMA gives an estimated sale price for a property given current market conditions. It's prepared by me in report form.

I will need to conduct a walk through of your home before preparing a CMA. The inspection part of the CMA shouldn't take long, nor does the home have to show like a model home at that time. However, property condition does affect price. So if you plan to do work on the property, please let me know.

After I preview the property, I will research the Multiple Listing Service for information about similar properties in the area that have recently sold. In order to arrive at a current price esti-mate, I will analyze information about listings that have sold and closed, those that are sold but haven't yet closed (the pending sales), active listings and expired listings.

Pending and sold listings give the most reliable indicator of current market price. Active listings are a gauge of the current competition in the marketplace. Expired listings are properties that were listed for sale but didn't sell. Usually expired listings didn't sell because they were priced too high for the market.

I then compare the property with listings found in the MLS search and by so doing arrive at a probable selling price. Keep in mind that the price derived from a CMA is somewhat subjective. Also, a CMA is not an appraisal. You need to hire a licensed appraiser to complete an appraisal. For a CMA on your home, contact SATELLYTE REALTY.