Doug Reynolds, a Sacramento area Realtor, provides explanations to real estate terms.
In this video i explain What is C.M.A. is… Comparable Market Analysis. It is doing a “mini appraisal” for a property to look at the comps. THis involves looking at the recent solds, the properties that are pending (in escrow) and the other homes that are currently acitive (for sale). From there, you make adjustments to compare to the subject property and arrive at an estimated value.
For sellers, this helps determine what they house is worth and what price it should be listed for sale.
For buyers, this helps them make an informed decision on the value of the home they are considering and what price they should offer.
If you are a homeowner that is thinking about possibly selling, contact me and i can provide a free CMA for you. This will give you information for what your home is currently worth.