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Flower Mound Real Estate – Appraisal & CMA, What’s The Difference?

Whether you’re looking to sell your home or are simply curious as to the value of your home, you may be wondering what the difference is between a professional appraisal, and a CMA or comparative market analysis. As reputable Flower Mound realtors, we want to help you understand the difference.

When trying to determine how much to list your home for, the comparative market analysis is used to determine current market value which takes into account homes that have been recently sold in your community that are very similar to your own home in terms of features, appearance, and price range. Real estate professionals gather this data from the MLS, or multiple listing service. The MLS is where information on properties which are listed for sale by various brokers and their agents is pooled. The multiple listing service also includes data relevant to recent sales, property tax roll data, and historical trends.

How does an appraisal differ from a CMA? An appraisal is typically performed by a licensed appraiser who works on behalf of the bank, rather than a realtor. An appraiser has no vested interest in the sale of your home, however appraisals are ultimately performed to protect the lending institution or bank from loaning an excess amount of funds for a property. A professional appraiser visits the home being appraised and compares such factors as age, location, condition, square footage, etc. to similar homes. While appraisers do consider information included in the local MLS, they also compare the data they have collected to sales trends, recently sold homes, and property tax records in an effort to determine the curve of home selling prices up and down.

Regardless of the market, your home will not likely sell if priced above what it’s worth; the bank will not approve the loan if your asking price is higher than the appraisal. Use the information your Flower Mound real estate agent provides in the CMA, and chances are you won’t run into any issues when trying to price your home competitively.

For help determining the value of your home, count on the professionals at Team Nelson. Our specialty is making the home buying or selling process as easy as possible for those in the Flower Mound, Frisco, Denton, and surrounding North Texas communities.

What People Are Saying

  • Really enjoyed working with Team Nelson. They very helpful and knowledgeable through the entire house buying/selling process. They took their time explaining everything to me and ensured I was comfortable at every stage!

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    user5457492
    1/13/2020

    It was a pleasure to work with the Nelson Team in the purchase of our new home! We received helpful information upfront from Bill that the home we wanted was a Relocation and that affected the price we offered. The paperwork was expedited and everyone was professional and pleasant. We felt we...

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    helenskp
    8/20/2015

    Team Nelson has its pulse on the market and seems to know available homes before they even list. They listened tentatively to my needs and desires and kept me knowledgeable of the market and good values. This also generates more buyers for your home.

    Ray David Avatar
    Ray David
    12/11/2018
  • We had a wonderful experience with Team Nelson! James Freed was our agent and we were ably assisted by Team member Kelly Sokora. The animation posted on line of our home was fantastic and produced to state of the art technology, displaying our home to the utmost market potential. We sold within 24 hours and the support of James and Kelly throughout the process to close could not have been smoother. I would not hesitate to recommend Team Nelson to family and friends.

    Ray Hodge Avatar
    Ray Hodge
    9/11/2019

    I would like to take this opportunity to express my appreciation for Team Nelson on their professionalism and quality-oriented work ethics; both are of the highest standard. During the process of buying a home I dealt with several Team Nelson members, though had the most interaction with Kevin E., and they never faltered in the level of professionalism and constant communication. Kevin showed a level of commitment and service that is sought after in any field. Though I am not a real estate expert I have purchased and sold other properties and genuinely appreciate their expertise. I would certainly recommend Team Nelson to anyone.

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    Wyatt L.
    4/11/2019

    Team Nelson communication and customer service was outstanding. Our house wasn't on the market long.

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    Carla Bridges
    3/11/2019
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