Wednesday, April 14, 2010

Real Estate Book: Another Question for Chapter 4-How Much is Your Home Really Worth?

Q: I will soon be placing my home for sale on the market. My Realtor prepared a CMA for me to help determine my home’s value. How do I know if this price is what I should use as my list price?

A: A Competitive Market Analysis or CMA is an accurate depiction of available like kind competing homes for sale.

A CMA, active competing properties, recent pending sales and recent sold properties-these three categories will usually provide a sufficient cross-section of relevant date to determine a range of fair market value and list price for your home.

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