What is a comparative market analysis?

A comparative market analysis (CMA) is a tool used by real estate agents and brokers in California to assess the value of a particular home. The analysis involves comparing recent sales prices of similar homes in the same area to determine an accurate estimate of the current market value of the subject property. The analysis includes examining the size, features, amenities and condition of the homes in the area as well as the current market conditions. A CMA is not an appraisal, which is a more comprehensive analysis that involves a thorough inspection of the property and its features. However, the CMA provides a helpful snapshot of the local real estate market and can be used to assess a property’s value and price before listing it for sale. It can also be helpful to buyers in understanding how much they should offer for a particular property. A CMA is an important tool in residential real estate law in California. It helps to ensure that buyers and sellers are being treated fairly and that properties are not being over- or undervalued. It also helps real estate agents and brokers provide accurate pricing and advice to their clients.

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What is a comparative market analysis?

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