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Back to Welcome Page COMPARABLE MARKET ANALYSIS FOR SETTING VALUES This Comparable Market Analysis (CMA) worksheet is prepared by the seller of a property, or his agent, to provide an estimate of

How to fill out comparable market analysis for

How to fill out a comparable market analysis for:

1. Begin by collecting data on recent sales of similar properties in the same neighborhood or market area. Look for properties that are similar in size, condition, and amenities.
2. Analyze the sales data to determine the average selling price, price per square foot, and average days on the market for comparable properties. This will provide a baseline for evaluating the subject property.
3. Evaluate any differences between the subject property and the comparable properties. Consider factors such as location, condition, size, upgrades, and amenities. Adjust the comparable sales prices accordingly to reflect these differences.
4. Calculate a value range for the subject property by comparing it to the adjusted sales prices of the comparable properties. This can be done using methods such as the sales comparison approach or the income approach, depending on the property type.
5. Consider any market trends or influences that may affect the value of the subject property. This could include factors such as changes in supply and demand, local economic conditions, or upcoming developments in the area.
6. Present your findings and analysis in a clear and organized report. Include details on the comparable properties used, adjustments made, and the final estimated value of the subject property.

Who needs comparable market analysis for:

1. Real estate agents and brokers: Comparable market analysis is essential for determining a property's fair market value before listing it for sale. It helps them set an appropriate asking price and negotiate with potential buyers.
2. Homeowners: Comparable market analysis can provide homeowners with an estimate of their property's current value. This information is valuable for refinancing, determining insurance coverage, or making informed decisions about selling or remodeling.
3. Investors: Comparable market analysis helps investors evaluate potential investment properties. It allows them to compare the subject property to recent sales and determine if it's a sound investment opportunity.
4. Appraisers: Comparable market analysis is a crucial tool for appraisers to determine the value of a property. It provides them with relevant data and insights to support their final appraisal report.
5. Lenders: Lenders use comparable market analysis to assess the value of a property before approving a mortgage or other financing. It helps them ensure that the loan amount aligns with the property's market value.
6. Insurance companies: Comparable market analysis assists insurance companies in determining the replacement cost or insurable value of a property. It helps them calculate appropriate coverage limits and premiums.

Note: The specific individuals or organizations that need a comparable market analysis may vary based on the industry or context.

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What is comparable market analysis for?

Comparable market analysis is used to determine the fair market value of a property by comparing it to similar properties that have recently sold in the area.

Who is required to file comparable market analysis for?

Real estate agents, appraisers, and property sellers are typically required to file comparable market analysis.

How to fill out comparable market analysis for?

Comparable market analysis is filled out by collecting data on recent sales of similar properties, analyzing the data, and adjusting for any differences between the properties.

What is the purpose of comparable market analysis for?

The purpose of comparable market analysis is to determine the fair market value of a property in order to set a competitive listing price or offer price.

What information must be reported on comparable market analysis for?

Information such as property details, sale price, date of sale, and adjustments made for differences between properties must be reported on a comparable market analysis.