A "CMA" is a "Comparative Market Analysis", which is an estimated market-value of a property. Realtors have access to MLS and other research data, which is compiled to help calculate the approximate dollar-amount of a property, so that Buyers and Sellers can better determine how much to offer in purchasing a home or set as their list price when selling a home. Many factors go into arriving at either an offer or list amount, so it is wise to remember that the Comparative Market Analysis is a suggested price, and should be used merely as a guide. A CMA is not an Appraisal of a property; only a licensed Appraiser can do an Appraisal, which is used for tax purposes and/or for bank information regarding a loan. A CMA, however, is used for marketing purposes and for assisting Buyers and Sellers to arrive at what possible price they might reasonably expect to buy or sell a property. Property market-values can fluctuate due to economic conditions and other extraneous factors.

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Lois Myers and Rich Myers
Lois Myers and Rich Myers
Broker and Sales Agent