A CMA is an estimate of your home’s value done by a local real estate to establish a listing or offer price when you decide that you want to sell or buy a home or property. This service is always offered FREE of charge and without obligation. A CMA should only be used as a reference for deciding at what price you should list or buy your home for.
Your agent will create a CMA by utilizing recent sales data and using their knowledge of the local market. Your agent will compare your home with homes that are most like yours in your neighborhood, or similar neighborhoods nearby. A comparable home/property is one that is of the same type (single-family, multi-family, commercial, etc.), is in similar condition inside and out, and has the same or close to the same number of units and land/living area size.
Some factors that will be considered are:-Comparable properties that have recently sold (3-6 Months),