Comparative Market Analysis CMA Real Estate Investing
Comparative_Market_Analysis http://JoanWilson.PrudentialCal.com Hello This Is Joan Wilson Prudential California Realty With. Recently I've Been Asked what a CMA is? It Is A comparative market analysis. A comparative market analysis Is an estimate of The Value of The Property using only a few "Indicators taken from comparable sales of properties Such As The price per square foot. Similar properties are similar to properties That Are The One Being sold.
So let's take a look at a Particular property. For our example, let's look at a detached home has Three Bedrooms Two That baht, am and is 1.511 square feet. This Home Is Located In The Oceanside in zip code 92054.
As a realtor. I go Into the MLS (multiple listing service) and define my parameters Around the Information Particular to this home. As You Can See, I picked detached homes, zip code 92054, The Active and Sold (In the Last Three Months), With Three Bedrooms, Two baths, and the square-foot Between 1.400 and 1.600.
If You Look At The Active listings in 92054 On The Markets and Approximately The Same Size Home, You Will record There Is Quite a Variety of pricing. For a true analysis, WE WOULD Probably need a few "more Criteria, however active homes, show you what's going on the Market. Sold homes show you what's selling & the price range That You Can expect to get.
In The Last Three Months, Two Homes Have only sold That Are Approximately The Same Size as this home. There Are Ways to get more information by Broadening your Criteria, however for this example is Enough o data. Let's Take a Closer Look at the sales price.
If you look at high & the low That, You Will See That The Average Sales Price is $ 202.28 a square foot. So If We Apply this data to the home Evaluating That we are, here are The Values That We Would Get.
Low value for o 1.511 square foot home $ 291,000 Would Be With The High Value Being $ 320,000. The average price for home this size in this area Would be $ 305,000.
This is a very simple comparative market analysis, however It Is A Lot of information about The Average In The dirty area. What you CAN expect to pay for home in this area, about this size. It Is Not an appraisal and should "not Be Compared to one. However Before I Paid For appraisal i would get a comparative market analysis.
This Is Joan Wilson, if I can help you determined The Value of Your Home or The Value of a determined property investment you'd like to make, please feel free to call me anytime. I'm here to help. Thank you for you Every time day.Joan Wilson (Realtor, SRES, Ecobroker, Certified REO, Hafa, and Short Sale Specialist) Prudential California Realty Phone: 760-757-3468 800-975-7481 x 111 License # 01341483 JoanWilson@prusd.com Find Your Dream Home: http://JoanWilson.PrudentialCal.com http://JoanWilsonRealtor.com
