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One of the topics we get asked the most questions about by Northern Texas homeowners is the CMA. A CMA, or comparative market analysis, is used to get a valuation for a home you are thinking about selling. It comes up with the value by comparing it to similar homes that have recently sold in the immediate area.
When we do CMA’s for our clients, we take the number of bedrooms, bathrooms, living spaces, amenities, and any additional features into account. We then go out in the marketplace to look for similar homes that have sold within the last six months to come up with an accurate valuation for your home. This valuation is important because it lets you know the price of your home going forward.
When we do CMA’s for our clients, we take the number of bedrooms, bathrooms, living spaces, amenities, and any additional features into account. We then go out in the marketplace to look for similar homes that have sold within the last six months to come up with an accurate valuation for your home. This valuation is important because it lets you know the price of your home going forward.
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A good Realtor can explain
the ins and outs of your CMA.
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Many times agents will simply do a general market evaluation using recent tax data. Tax valuations tend to be a lot lower than your home’s true value (the value that you can actually sell for). It’s important for you to hire a dedicated Realtor who can help explain the ins and outs of your home's value, and find the best comparables for pricing.
If you have any questions or you’re thinking about buying or selling in Northern Texas, give us a call or send us an email. We’d be happy to hear from you.
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