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I have had many of the property owner's that I manage for calling lately to ask for a CMA.

What exactly is a 'CMA'?
CMA stands for comparitive market analysis.
Basically, I take 3 or 4 houses in the same neighborhood that have sold in the last few months, then I take 3 or 4 houses in the same neighborhood that are currently for sale, I learn as much as I can about those houses as compared to the owner's property and I give them an estimated sales price based on the comparable properties.

How is this different from an appraisal?
Well for starters, I don't do appraisals. Period. Am I allowed to do them? Yes, any licensed real estate agent in the State of Florida can legally appraise a home. So why don't real estate agents give appraisals?
Because for one thing, it is unethical. The appraiser should be an objective third party, someone who has no financial or other connection to any person involved in the transaction.

Is the appraisal the same as a home inspection?
NO! Appraisers make notations about obvious problems they see, but they are not home inspectors. They do not test appliances, look at the roof, check the chimney or do any other typical home inspection tasks. Never count on an appraisal or CMA to help you determine if a property is in good condition.

Now that we've established the differences between home inspections, appraisals, and CMA's. It begs the question, why would you want a CMA?
CMA's determine a REALISTIC asking price.

When I do a CMA, I don't ask what you have left on your mortgage, I don't ask what house you are hoping to buy next, I don't even need to know what you originally paid for your property. Those are all things you need to think about, and I would probably need to know if listing it for you, but all things considered, if your house is priced incorrectly, it will not sell.

A CMA helps you get an idea of what you can sell your house for NOW.

If you are interested in a free CMA, I will provide one for you as well.

Give me a call!