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What is a Comparative Market Analysis
A Comparative Market Analysis will provide you with the information you need to
set a value on the home you own. CMAs are written reports comparing the prices
of recently sold homes that are similar to yours in terms of location, style
and amenities. CMA's often include information on properties currently for sale
plus the properties which failed to sell.
Your professional Real Estate Agent will do a study/analysis for you to
determine the best pricing for your property. There are several factors
involved in making the process work. The first step your agent will take is to
gather the information on your home, i.e. Tax data, survey, measure your home
and do a thorough profile of its features. Second, the agent will collect
information on the current market activity, which simply put, is your
competition. Past closed sales as well as pending sales and expired listings
are also studied thoroughly for marketing trends. Third, The professional agent
will make recommendations based on these findings as to pricing your home for
the current market.
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