Realtors Accurate CMA

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Realtors Accurate CMA

By: Marten W. Davis, SRPA

Realtors often ask us how to prepare an accurate Comparative Market Analysis. The following is an outline of presentations given at Realtor Training Sessions.

Be subdivision specific in both MLS and Public Records.

Use recent data - no more than 3 months if possible. Especially important in a changing market.

Living Area (if subject is 1250 SF then search from 1150-1350) is one of the most important criteria. Be sure to be within a maximum of 9 or 10% variation in living area.

Eliminate those having major differences (pool, water, room count, etc).

Search by Grid first. If there are not 5-10 sales that fit 1-4 above (be sure to screen by size and eliminate major differences) then expand the search area.

Place sales on market grid in order to see major differences and be able to adjust for these differences.

See the Sample Market Grid: http://gulf-to-bay-appraisals.com/Market_adjustment_grid.pdf

Marten Davis, SRPA

Article Source: http://www.trade4net.com/articles

Gulf to Bay Appraisals serving the Greater Tampa Bay Area including: St Petersburg Florida. Marten W. Davis, SRPA owner of Gulf to Bay Appraisals.

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