A CMA report is one of your real estate professional’s most powerful tools of the trade. It includes timely data on active listings, as well as pending and closed sales in a given area. Agents use their knowledge of local neighbourhoods and buying trends to select the most comparable properties and form an expert opinion on the market value.
For owners preparing to list their homes, a CMA provides detailed information about recent sales and indicates how long homes are taking to sell. It also helps sellers size up the competition and settle on an appropriate asking price. Buyers can use the same information to negotiate a fair deal on a home they wish to purchase.
Homeowners who are considering a refinance may want to have an idea what their home is worth prior to researching their lending options and having to pay for an official appraisal. It is also important to know the value of real estate holdings when making financial decisions regarding insurance coverage, estate planning, borrowing or investing.
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