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What is a Comparative Market Analysis (CMA)?

A Comparative Market Analysis (CMA) is an evaluation of similar, recently sold homes (called comparables or comps) that are near a home or homes that you want to buy or sell. Buyers, sellers, or real estate agents perform a CMA report to establish and find a fair price range for the home the report is created for. The price range from the CMA can then be used as a guide to be used for establishing an offer price or a listing price.

Basically, performing a CMA involves finding the homes that are similar to the home under consideration, and creating an in-depth comparison of its size, age, location, and features of the home. It all comes down to one question: compared to other, comparable homes in this area, how much is this home worth? Answering that question involves looking at a fair amount of data on other homes in the current market.

The process for doing a comparative market analysis includes:

  • Defining criteria for selecting comparables in close range to the home
  • Determine a list of quality comparables
  • Evaluate the comparables within close range to the home
  • Adjust comparable values for differences in size, condition, location, amenities, etc
  • Estimate the ideal value of your target home based off the findings
  • CMA will be created for this property address
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  • Bill's team did an amazing job making the selling and buy process easy for me. Anyone looking to buy or sell should definitely use the Bill Nelson Group!!!

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    ht103084
    2/10/2021

    As a buyer and seller of real estate I have used Bill Nelson "Your Home Free" on all property sales and purchasing. Mr. Nelson and his team have expertise and excellent negotiating skills everyone needs when selling or buying property. Every call was returned and there are no questions presented to anyone in the team that goes unanswered. If you as a buyer or seller haven't met the Nelson team, you should. Bill Nelson "Your Home Free" is the only real estate company I use.

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    1/07/2021

    Truly enjoyed working with Team Nelson - Your Home Free! They brought a lot of great experience to the table and made the process very easy for me. Would definitely recommend.

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    amber scheurer
    9/30/2021
  • The best experience.
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    11/04/2020

    The best experience.Hassle free and seamless process.Team Nelson led the entire process, listened to our needs and delivered above our expectations.Great Job!

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    john eichberger
    11/06/2020

    We LOVE Bill Nelson! Our family and family friends have used Bill’s team for YEARS, so when it came to be our turn, naturally Bill was our #1. Emma and Casey were so helpful when it came to expanding our knowledge since it was our first time buying a house!

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    11/23/2020