Home Market Analysis
WHAT IS A (CMA) COMPARATIVE MARKET ANALYSIS?
A Comparative Market Analysis (CMA) is an evaluation of similar, recently sold homes (called comparables or comps) that are near a home or homes that you want to buy or sell. Buyers, sellers, or real estate agents perform a CMA report to establish and find a fair price range for the home the report is created for. The price range from the CMA can then be used as a guide to be used for establishing an offer price or a listing price, for this people need to consider the value of the homes they want to sell, and they can even improve this value with the help of this guide from Tidy TN that give ideas on how homes can be improved.
Basically, performing a CMA involves finding the homes that are similar to the home under consideration, and creating an in-depth comparison of its size, age, location, and features of the home. It all comes down to one question: compared to other, comparable homes in this area, how much is this home worth? Answering that question involves looking at a fair amount of data on other homes in the current market. Especially if youre trying to get into the small business home market that will be hard to break through without the proper support since coverage for small businesses can be hard to get unless youre with a trusted insurer!
The process for doing a comparative market analysis includes:
Defining criteria for selecting comparables in close range to the home
- Determine a list of quality comparables
- Evaluate the comparables within close range to the home
- Adjust comparable values for differences in size, condition, location, amenities, etc
- Estimate the ideal value of your target home based off the findings
Complete the contact form below if you have any special request for your report and I will include it with my criteria. I will get in touch promptly to provide you with a free, no obligation Fox Valley, IL real estate market analysis specific to your home.
FREE COMPARATIVE MARKET ANALYSIS FORM