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?
There are a few key factors that go into building a CMA on a property.
- 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.
After our research is complete we build the analysis to accurately target a listing price and sale price for your home. During this process you should also receive a net proceeds sheet – this form breaks down your costs and estimates what you will make on the sale of the property.
Listen to Amber Johnson explain what a CMA is in this video!
Cheyenne is currently experiencing a sellers market and many homes that are priced right are receiving multiple offers. With a skilled realtor on your side and the proper marketing strategy you can expect a highly successful selling experience. Contact your RE/MAX Capitol Properties agent today to get started, 307-635-0303 or online.