What is a CMA and how does it determine your home value?
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 weren’t entirely sure what it meant. CMA stands for Comparable Market Analysis. This term refers to how a real estate agent determines the market value of your home before listing it on the market.
Real estate agents come up with these values through the research of your home’s location, comparable properties in the area, and the current market trends. Unlike most commercial properties, whose value is determined by income, residential properties take a different approach.
Value: Tax Assessed versus Market
An important distinction is that there…
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