Comparable Market Analysis - What is a CMA and How Does it Determine Your Home’s Value? - Alaska RealtorsPosted by Matthew Lindsay on
All too often, realtors use jargon that the average person isn't familiar with. The term “CMA” is one of those terms you may have heard, but wasn’t sure what it meant. CMA stands for Comparable Market Analysis. This is how real estate agents determine the market value of your home before they get it on the market.
Real estate agents come up with these values through research of your home’s location, comparable properties and the market. Unlike most commercial properties, whose value is determined by income, residential properties take a different approach.
There is a difference between “tax assessed value” and “market value.” Tax assessed value is what you pay taxes on and, depending on where you live, can be above or below market value.…
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