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Dated: December 1 2016
What in the world is a Realtor talking about when they say they will provide or give you a CMA? What does CMA stand for? The first thought of the Country Music Awards would be a far cry from what I will be discussing. A CMA is a Comparative Market Analysis; also know as a Market Report. This is a tool at a Realtor's disposal that contains a wealth of information on homes within a specific area. Most Realtors, including myself, provide these for people free of charge. Here is an example of one:
(This example is from a CMA I made back in April 2016. The properties used here are within a third of a mile of 1519 Ty Cobb, Round Rock, TX.) The Realtor will find properties close to the subject property and with similar attributes. A subject property is the property that is being compared to/against. The market report will give an indication what homes in the area are worth by using homes currently on the market, homes that are under contract, and homes sold within the last 3 months. The best piece of information in this report is the sold prices that match the subject property. Upgrades and/or improvements adjust the values for the subject property or comparable properties. Examples of such upgrades, not exhaustive, can be a garage (2-car vs. 3-car); floors (tile vs. carpet); and counter-tops (granite vs. laminate). Using a skilled and knowledgeable Realtor who can understand these reports can give a client (buyer or seller) an edge in a deal.
So if there is a property that you want a CMA done on, feel free to call or email me: firstname.lastname@example.org
Jacob Hyde, Realtor & Attorney
Team Price Real Estate
7320 N Mo-Pac Ste 305
Austin TX 78731
Certification: Military Relocation Professional
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