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(CAMP) for Seller: Comparative Market Analysis (CMA)
 
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Comparative Market Analysis 


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Just a Note:

We have MLS-Listings and then we have FSBO (for sale by owners). Home buyers can look at these on the internet or the re-sale homes in magazines and newspapers. It can give you what's available. But the internet is NOT A REAL ESTATE AGENT and cannot give you advice, guide you or help you. Years & years of experience, knowledge and continuous study by a professional cannot be substituted by buyers reading a few books and seeing a dozen homes or so. Always use a professional Real Estate Agent if you want piece of mind.

What is Comparative Market Analysis 

   
   CMA INCLUDES
  • The CMA is typically designed to give quick capsules of information such as number of bedrooms and baths, approximate square footage, size of major rooms, amenities such as fireplaces and finished basements, age of the home, property taxes, 
  • CMA's can include homes that are currently for sale and those which have recently sold. They can go back in time as long ago as a year or a month or week ago. 
  • CMA's can cover areas as narrow as one or two streets surrounding your home, or as broad as an entire subdivision depending upon how many comparable sales, etc are available in your marketplace.

 

  CMA does not INCLUDE
  • Those factors that affect perception, and that is the key difference between why one home with identical features will ultimately command a higher price than its twin.  
  • Much of a home's value will ultimately be determined by the emotional impact it has on buyers.  These emotions are based on subjective elements such as drive-up appeal, interior decor, colors, views from the windows, light, darkness, room flow, and hundreds of other factors. 
   CMA  is SIMPLY 
  • a selling tool, but like any tool, it doesn't work very well by itself. It takes a skilled person to be able to use it.  For this reason , the CMA will always need to be interpreted by a professional or with complete objectivity by the seller or buyer. 
  • As Seller and your agent are going to use the CMA to ask the highest possible price for your home.
  • also a buying tool, it is taken just as seriously by the buyer and his or her agent
  • The Buyer is going to use it to find reasons to either choose or eliminate your home, and to arrive at the lowest price possible

Demand and expect a proper market evaluation.

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