So What is a comparative market analysis (CMA)? We Realtors use them to help Metro Detroit Michigan sellers and buyers determine the values of their homes.
Is a comparative market analysis give the true or absolute value of a home? NO Just like an appraisal a CMA is only a professional opinion of value. Appraisers give their opinion of value just like real estate agents do in a Comparative market analysis.
What comparables do you use in a CMA? We use recently sold Metro Detroit homes within the last six months to help determine value. Then we also check what Metro Detroit homes are for sale in the neighborhood and in the immediate area.
We use Oakland county homes or Wayne County homes that are like yours in lot size, home style, square footage, and home characteristics. If we can’t find similar homes we make adjustments for the differences.
We use comparable market analysis (CMAs) to help you price your Michigan home so you can sell it. So remember we make money when we sell your home. We make more money the higher the price. So if my comparative market analysis (CMA) shows you a price that you think is too low get another opinion.
But whatever Michigan Realtor is doing the CMA remember we are not trying to cheat you we are just giving you our best opinion however bad it may seem at the time.
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