Knowing your home’s worth is essential to your financial health. Over the course of owning your home, your home may have appreciated due to recent or current sales in your neighborhood. As you make your monthly payments, you loan amount decreases which will create equity in your property, and equity is your money.
What is a comparable Market Analysis?
A comparable market analysis is a estimate of a home’s value based on the recent sales in the area that are comparable to your property. We, at L McFadden Realty, will create CMA reports to help our sellers set their list price so buyers can make competitive offers.
What is a CMA Report?
At your request, we will generate a CMA report that will consist of current and recent properties that have sold in your area. The properties within the report will be similar to your property bases off the property’s characteristics. This report will be very detailed from bed and baths to square footage. Please do not mistake the CMA for an appraisal. An appraisal is totally different from a CMA and is performed by a licensed appraiser. The CMA is an estimate of your home based off of what the market supports at the current time of your interest.