Do You Know What Your Home Is Worth In Today’s Market?
At The Corcoran Connection, we can help you with that in an instant for free! It is always our pleasure to provide value with no strings attached, that’s just how we operate. So, what is your home worth? Let us help you with that and email you a free complimentary report, details below.
There are no two homes that are alike, and this is the exact reason why determining the sale price for your home is challenging. Well, not anymore, let me introduce you to the CMA or comparable market analysis.
This is an incredibly useful tool. Simply visit our website here and plug in the information and we’ll email that right over to you!
What is a Comparative Market Analysis or CMA?
The CMA is a side-by-side comparison of homes for sale and homes that have recently sold in the same neighborhood and price range. This information is further sorted by data fields such as single-family or condo, number of bedrooms, number of baths, postal codes, and many other factors. Its purpose is to show fair market value, based on what other buyers and sellers have determined through past sales, pending sales, and homes recently put on the market.
How is the CMA created?
CMAs are generated by a computer program supplied by your real estate agent’s multiple listing service (MLS). The MLS is available to licensed members only, including brokers, salespeople, and appraisers, who pay dues to gain access to the service’s public and proprietary data, including tax roll information, sold transactions, and listings input by all cooperating MLS members.
Listing agents generate CMAs for their sellers, and buyer’s agents create them for their buyers so both sides know what current market conditions are for the homes they’re interested in comparing.
How accurate are CMAs in Determining Your Home’s Value?
The CMA is a here-and-now snapshot of the market, based on the most recent data available, but it can instantly be rendered obsolete by a new listing, or a change of status in a home with the same criteria. Why? The market is constantly changing – new listings, pending sales, closed sales, price reductions, and expired listings.
CMAs can vary widely, depending on the knowledge and skill of the person inputting the search parameters to the software as well as the number and type of data fields that are chosen. That means some features may not be included. As informative as the CMA is, it should only be used as a tool and should not substitute for your real estate professional’s knowledge and advice.
The Corcoran Connection strives to always go above and beyond for our customers. This is why we have such a loyal following. Any real estate agent in Central Florida will tell you, their value lies in what their customers are saying. Read our testimonials, they speak for themselves.