List Categories | List All Articles | List Articles By Title
What Is a CMA
"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 a real estate agent and it usually comes in report form. Most residential real estate agents don't charge a fee for preparing a CMA.
An agent needs to walk through the property in question before preparing a CMA. Unless the home is enormous, the agent inspection part of the CMA shouldn't take long, nor does the home have to show like a model home. However, property condition does affect price. So if you plan to do work on the property, let the agent know.
After the agent previews the property, he or she researches the Multiple Listing Service for information about similar properties in the area that have recently sold. In order to arrive at a current price estimate, an agent should 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.
The agent then compares the property with listings found in the MLS search and by so doing arrives 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.
Sellers should have a CMA done before listing their home for sale. Sellers who don't have a real estate agent often ask several agents to complete CMA's. This gives the seller an opportunity to meet different agents and to see how they work.
You may find that you want a CMA even if you aren't planning to sell. For instance, before embarking on a major renovation you might want to know how much you can spend without over-improving for the neighborhood. The agent who sold you the property should be happy to prepare a CMA for you if he or she is still active in the local housing market. If not, ask an acquaintance whose opinion you trust to recommend an agent.
Buyers should ask for a CMA on a property they are considering buying, particularly if they are new to the area and haven't had the opportunity to see many listings.
First-Time Tip: Regardless of whether you are a buyer or a seller, the agent who prepares your CMA should work actively in the area where the property is located. The Internet has made it possible for virtually anyone to access comparable sales information. However, this information could be inadequate without firsthand knowledge of the comparable properties and the local marketplace.
For example, property upgrades usually have a positive effect on sale price. But if the upgrades are inferior in quality or design they can lower rather than increase the price. Suppose the information on a sold listing shows a remodeled kitchen. Without having seen the property, it's difficult to know how the remodeling affected the price.
The Closing: Don't be surprised if a CMA gives a price range rather than a set price. You're more likely to see this in markets were there is variation in terms of property size, age, architectural style and condition.
For More Information on Selling your home quickly visit http://www.webuyhouseshome.com Unlike other so called We Buy Houses websites, Rescue Real Estate gives you every available option for selling your home. Simply complete our short 1 page form, and get anonymous online access to our team of specially trained REALTORS®. Then, in as little as 48 hours, you will begin to receive offers to purchase your home from our nationwide network of real estate investors. Click Here to sell your home quickly and compare agents.
Where is Florida Investment Property
Florida Investment Property - Why Investing is a Wise Decision There are many reasons to purchase investment property in Florida, the foremost being value appreciation. Property values generally rise while debt decreases; making real estate purchases a good investment.
Get Rich With Mobile Homes
Does the myth that mobile homes depreciate in value keep you from investing in them? Well, they do lose value in a park, on a rented lot. Mobile homes with real estate, however, are an entirely different investment.
Hiring A Contractor - 10 Mistakes To Avoid
A very smart attorney I know paid $7,000 for a roof repair, only to have the roof leak the next time it rained. The contractor stalled, made excuses, but never did a thing about it.
Real Estate Professional in the Palm of Your Hand
GETTING THE MOST FOR THE LEASE-TRACKING YOUR REAL ESTATEIf you own rentals and/or investment properties, you know that you have to keep track of your portfolio, maintenance profiles, property managers, and related financial matters. There are a multitude of programs for the Palm-Pilot system to keep up with lease dates, lease expirations, and rent due dates.
Real Estate Feasibility Study (Cost Side) - $1.2 Billion Developer Tells You How To Do One
There are two sides to real estate development feasibility study: The Cost Side & The Income Side.I am going to concentrate in this article on The Cost Side.
How to Make the Real Estate Market Work For You and Get The Most Money
How to make the Real Estate market work for you and get the most money. Dad always said that Real estate is a good investment because they don't make it anymore.
Real Estate Local FAQs.
There are many frequently asked questions and any local real estate area. In our area here at the local Delaware Beaches, the most frequently asked questions are how to get a good deal and if there are any fixer-uppers available.
Dont be Tempted by We Buy Houses (Updated)
Do you want to sell your home right away? Don't be tempted by "We Buy Houses" or "Sell Your House in 9 days for Cash" ads and billboards.Savvy real estate investors run these ads and put up posters looking for sellers under duress.
Real Estate Investing - The First House Purchase
Real estate investing usually begins with the purchase of a house, rather than raw land or commercial property. The purchase of a relatively inexpensive house for rental or fix-up purpose is usually lower risk than any other type of real estate investment.
Chapter One FSBO the Russ Miles thriller/mystery novel
Chapter OneShe reached the phone on its second ring. "This is Tami!" She confidently answered.
Dont Buy Ugly Houses!
Ugly houses can be great investments, but we don't buy them. We understand that there are lots of valid ways to make money investing in real estate.
Are You Profiting From O.P.P.?
Are you profiting from O.P.
Secrets of Making Money from Real Estate - Part 3
Great, now how do I actually INVEST in real estate?Investing in real estate will get easier the more you do it. The first deal may take some time, but like anything, the more you do it the better you'll become.
Choosing Your REALTOR ®
With so many realtors competing for your business, how do you know which one to choose? Here are a few things to consider when choosing a realtor.The most important decision you will make in the sale of your home is the Realtor you choose.
What Should I Do If My Home Isnt Selling?
Suppose you've been trying to sell your home for months. You haven't had even a nibble from a prospective buyer.
Real Estate Investing - The Motivated Seller
How the heck do you find a "motivated seller?"The motivated seller doesn't wear a tattoo on his forehead that announces the distinction. And he never drags you onto his property begging you to buy.
FSBO: For Sale By Owners Chapter Two
Sheriff's Deputy Ted Rasmussen was thinking about Carrie-his pregnant waitress problem-when he sighted the traffic disruption meandering near the yellow line on Bay Street. A Bremerton merchant had called the Sheriff's emergency number reporting a wet morning commuter mess.
Successful Real Estate Investing
One of the best roads to wealth in America has always been the acclimation and development of good, solid, income-producing real estate. Real estate ownership is one of the best ways to achieve financial independence for the average person.
Quality of Life in Sussex County Delaware. Facts, Statistics, Observations and even opinions!
We Sussex Countians are fortunate in many ways as we have a wonderful quality of life here.Climate: Our climate for one thing is the best in the region.
Real Estate Investors: How to Get a Powerful Marketing Education for Free
I am a total geek.A few weeks ago, late at night, I wasn't in the mood to go to bed yet so I turned on the TV.
home | site map
All articles are copyright to their owners.
Note: this website lists articles, We do not Write Articles !