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What is Comparative Market Analysis? |
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A Comparative Market Analysis, or CMA, is a report that is designed to help determine the market value of your home or property. Using data from other comparable homes in the area, the real estate professional will examine your home and present you with an estimate of what it is worth.
A multiple listing service or MLS, is a great way to acquire the information about equivalent properties. The report should be done prior to putting the home on the market, but should not be considered a formal appraisal. It is merely a guide to show you what your home could sell for on the open market.
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