CMA Report vs An Appraisal

There is a big difference between a comparative market analysis (CMA) and an appraisal.

  • A CMA is an estimated value of your house based on recent sales in the area and on data you enter about the size and condition of the house. A CMA can be obtained on most realtor sites. These reports are estimates. They are useful, but they are not always conclusive. You should always talk to a realtor to get an accurate value for your home.

  • An appraisal is handled by a licensed appraiser that analyzes the value of a piece of property, from real estate to jewelry. Using several types of pricing models, and after visiting your house to see for themselves its size, style, condition and amenities, the appraiser will come up with a current value. This will cost several hundred dollars, but is the most solid piece of evidence you will have for setting and sticking to your price. Buyers expect to negotiate hard. An appraisal can pay for itself many times over if it helps you set the right price to begin with.

It is always a good idea to speak with a realtor about the CMA value of your home. If you would like a free CMA , have questions on Comparative Market Analysis (CMA) or any part of the home selling process please, Don’t hesitate to Contact Me!

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