When you are ready to sell your home, you’ll hear the term CMA. You’ll probably wonder what that means.
A CMA or comparative market analysis is a tool REALTORS use to help you determine the value of your home. Currently houses are flying off the real estate market in Cheyenne and many people are wondering what their home could sell for?
- We look for properties that are similar to yours – size, bedrooms, bathrooms, floor plan, upgrades, age, etc.
- Then we narrow our search to a specific radius around your home because at appraisal time there are certain guidelines that must be followed and we don’t want to collect data that can’t be used to support the value of your property when it’s time to sell.
- Finally we look at properties that have sold, are pending (under contract) or active on the market within the last 6 months.