Comparative market analysis
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What is a CMA and how does it work?
Simply put, CMAs are provided by real estate experts in your local area who have access to more market details than a layperson. However, you can compile a preliminary home market analysis using public data online.
What is included in a real estate CMA?
What included in a real estate CMA? CMAs should include descriptions and data points for the comparable properties (called omps?for short) that help inform the fair market value of the home being evaluated. The most accurate comparable homes are typically sold within the past three to six months.
What is a comparative market analysis (CMA)?
A comparative market analysis in the real estate world攐r CMA, as it more commonly known攊s a valuable report that gives both buyers and sellers an idea of a property fair market value, based on what other area homes are selling for pricewise. A CMA is generated using information from other comparable homes nearby, also referred to as omps.?/div>What Does ‘CMA’ Stand for in Real Estate? | Ownerly
Is a CMA the same as an appraisal?
No, a CMA and an appraisal are different, although a similar process of comparing properties is used to gauge value. The key difference is that a CMA is completed by an agent and an appraisal is performed by an unbiased licensed appraiser.