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Comparative Market Analysis |
What is a CMA?
A CMA is an
approximate fair market value (see below) that is given for the
property.
The CMA is
determined by an on-site view of the property for sale (yours) to
examine the condition and features offered. Next, similar properties
that have recently sold and current similar listings are compared to
your property and adjustments in value are added or subtracted based on
the varying features and conditions of the other properties for sale
that are similar to yours.
Fair Market Value Defined
The value of an item as established by a consideration of how much an
independent buyer would pay to an independent seller in a completely
free transaction for the item.
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