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What is a CMA , or comparative market analysis ?
This is an analysis of the value of your home . A Realtor ® ( or sometimes an appraiser ) will look at similar homes that are currently for sale , have sold , or even have failed to sell recently in the area . From there , the agent / appraiser will come up with a price on your home .
In some cases , this can be a fairly easy task … like in the case of a planned community . Planned communities typically have many floor plans to choose from . When trying to price a home , you simply go back and look at the most recent sale of that floor plan . Of course , you also consider the location within the community , etc . In other cases , like Corona del Mar , each home has its own specific nuances . Every street has advantages and perhaps disadvantages , so coming up with an accurate CMA requires an in-depth knowledge of the Village and these nuances .
In general , a CMA looks at similar homes to get a clear picture of how the market has valued homes that are comparable to yours . The aim of the CMA is to achieve the maximum selling price within a relatively short period of time .
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