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Understanding A Comparative Market Analysis For MA Real Estate

A comparative market analysis (CMA) is a report put together by an experienced listing broker to determine the sale price of a house. It is separate from an appraisal, which pinpoints the specific market price at a point in time. It is important that sellers learn about how a comparative market analysis is prepared. This blog discusses understanding a comparative market analysis for MA real estate.

How a MA Comparative Market Analysis is Prepared

The market value of a home is driven by buyers. Since the real estate economy changes frequently, the traditional way to determine market value is to review other homes that recently sold. Current homes on the market are not accurate estimations since it can not be predicted what they will ultimately sell for or if they will sell at all. When compiling a comparative market analysis, listing brokers attempt to use comparable property and in nearby areas. Identical properties are rarely available, so changes are typically made to reflect any differences. Upgrades, interior space, enhancements, and other factors are taken into consideration. Not all features add value and the amount of adjustments rarely match the expense paid for them.

Understanding A Comparative Market Analysis For MA Real Estate

A CMA report generally provides a price range instead of an exact amount. Where a listing falls within that range depends on the volume and quality of competing homes for sale and your desired time frame. If you have a short window in which to sell, your selected price must be more competitive (at either the low end or even below the estimated range). This is especially true if there is an overstock of homes for sale. In general, the higher you price a home, the more time it may take to sell. In an economy where few listings are available and your property is extremely desirable, you may have the luxury of pricing at the high end of the range. A experienced broker can help you with this decision and provide critical advice. Overpricing a listing can lead to loss of valuable time and money, so refer to the expertise of listing agents and the undeniable figures in the CMA report.

I hope that you found this overview of understanding a comparative market analysis for MA real estate helpful. For additional guidance on marketing a property for sale, review the other articles on this site. To receive a complimentary comparative market analysis, contact Christopher Graves at 978-376-5389 or christopher.d.graves@gmail.com.

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About Chris Graves

I grew up in Massachusetts, spent the majority of my young adult life in Boston, and own a home in Windham NH. I have owned properties in MA and NH. I specialize in mortgage lending in Massachusetts and New Hampshire and my company does have the ability to lend in other states. I graduated from the University of Massachusetts in Amherst Massachusetts in 2002. I have a Bachelor’s in Science. In addition to managing a team of loan officers my personal loan production is always in the top of the entire of company. I have personally been in the mortgage business for over 13 years. I pride myself with taking my clients from application to close in the smoothest and quickest way possible, while keeping them well informed during the entire process. I originate my own loans from start to finish and work hand in hand with my loan processors & underwriters to make sure I am updated to the minute with all of my files. I stay up to date with lending guidelines and speak with underwriters on a daily basis to ensure I am aware of all of the lending guidelines in place.

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