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Comparative Market Analysis Property Type: Residential Detached Status: Active Subject Property # MLS# Address Subdivision BR Full Baths Half Baths BRADFORD PARK 3 2 0 1 Story 2 4326866 1829 MISSION

How to fill out comparative market analysis

How to fill out a comparative market analysis:

1. Start by gathering data: Collect information on comparable properties in the same area. This includes details such as property size, number of bedrooms and bathrooms, amenities, and recent sale prices.
2. Analyze the data: Once you have gathered all the information, compare the properties and look for similarities and differences. Identify the features that make the subject property unique and assess how it compares to the others in terms of value.
3. Determine a fair market value: Use the data and analysis to estimate the fair market value of the subject property. Consider factors such as location, condition, and recent market trends. This will help in setting a competitive listing price or making an informed offer.
4. Write a comprehensive report: Document your findings and analysis in a professional manner. Include details about the subject property, comparable properties, and the reasoning behind your valuation. Use charts, graphs, and other visual aids to support your conclusions.
5. Review and double-check: Before finalizing the comparative market analysis, review all the information, calculations, and sources. Make sure there are no errors or inconsistencies that could impact the accuracy and credibility of your report.

Who needs comparative market analysis?

1. Real estate agents and brokers: Comparative market analysis is a crucial tool for real estate professionals. They use it to determine the appropriate listing price for a property, advice sellers on the market value, and help buyers make informed decisions on offers.
2. Homeowners looking to sell: Homeowners who are planning to sell their property can benefit from a comparative market analysis. It helps them understand the market conditions, set a competitive asking price, and attract potential buyers.
3. Homebuyers and investors: Buyers and investors utilize comparative market analysis to evaluate the fair market value of a property they are interested in. It helps them understand if the asking price is reasonable and negotiate effectively during the buying process.
4. Appraisers and lenders: Appraisers use comparative market analysis to estimate the value of a property for mortgage lending purposes. It helps lenders determine if the property is suitable for financing and facilitates the loan approval process.

In conclusion, a comparative market analysis is a valuable tool for various stakeholders in the real estate industry. By following the steps outlined above, you can effectively fill out a comparative market analysis and understand who can benefit from it.

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What is comparative market analysis?

Comparative market analysis is a method used by real estate professionals to determine the value of a property by comparing it to similar properties in the area.

Who is required to file comparative market analysis?

Real estate agents and appraisers are typically required to file comparative market analysis reports.

How to fill out comparative market analysis?

To fill out a comparative market analysis, one must gather information on recent sales, active listings, and expired listings of similar properties in the area.

What is the purpose of comparative market analysis?

The purpose of comparative market analysis is to help determine the fair market value of a property.

What information must be reported on comparative market analysis?

Information such as property details, sale prices of similar properties, days on market, and location must be reported on comparative market analysis.