What does CMA stand for? 

CMA is short for Comparative Market Analysis. 

What is a CMA?

A CMA estimates a home's price based on recently sold and similar properties in your immediate area. Real estate agents like myself create CMA reports to help sellers set listing prices for their homes and to help buyers make competitive offers. Whether you're buying, selling, or if you're just a curious homeowner EVERYONE needs the benefit of a CMA. 

BTW: Appraisers utilize a similar process to determine the value of your property prior to finalizing any financed sales. 

What is included in a CMA report?

When I conduct a CMA I do research on the following and with my findings I am able to create a detailed report. The report may look scary for most but don’t worry I make sure to break it down in a simple and easy way for you to read & understand. 

The CMA will include:

1. Your property address and 3-5 comparable properties that have SOLD (we call this real data; if it hasn’t sold it’s not considered real data, that’s just wishful thinking)  

2. A description of each comparable, including: elevation, floor plan, number of bedrooms + baths & all upgrades are also considered 

3. Square footage of each comparable 

4. Sales price of each one 

5. Dollar adjustments for any differences to your property (ex: premium lot, cul de sac location, views, etc)

6. Adjusted sold price per square foot for each comparable

7. A reasonable price range for your property (this helps us decide exactly what strategic list price we should go with)

How does a CMA benefit sellers?

A CMA is a must have for people selling their homes because it provides a full analysis of your property's worth based on real data. Homes that are for sale aren’t always priced right & it’s not hard to determine which aren’t priced correctly, those properties are typically sitting on the market and that’s exactly what you do not want to do. This report will give you the information you need to strategically price your home for a quick and very profitable sale. In this market it is critical not to list a property too high or too low, which is why I do the research upfront by creating a CMA & really deep diving on the real data! 

BTW: Buyers & appraisers are doing it anyway so I like to stay one step ahead of them, always! 

How does a CMA benefit buyers?

Okay so you’re a buyer not a seller, a CMA is still very valuable for you. Not only will a CMA help us write a very competitive offer. You’ll have peace of mind because you know the real data & you’re not overpaying when you make an offer on the property you love! 

BTW: You can also use the CMA as an initial checklist of what issues to be aware of when touring homes for sale.

How do I get a CMA?

Very simple, connect with me your soon to be favorite real estate professional! My contact information is below. 

Text or call: (818) 314-2001

Email: joshua@jhagents.com 

Written by Iris Perez