A Comparative Market Analysis (CMA) is a report generated by Realtors using data such as location, recent home sales, current asking prices and other comparable information to determine the current market value range of your property. A more accurate value is established once your homes current condition is compared to those in your market.
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WHAT'S THE DIFFERENCE BETWEEN A CMA AND AN APPRAISAL?
A Comparative Market Analysis (CMA) is used by your Realtor to determine an appropriate listing price by comparing your homes condition , size and features with the current market trends from other properties in a specific area that have recently been sold, currently on the market or expired using information acquired the California Regional Multiple Listing Service (CRMLS).
An Appraisal is done by a State Licensed Appraiser to determine the current market value of a home and is ordered by the buyer's lender to protect it's interests by ensuring a loan does not exceed the properties value.