cma home valuation

The Woolman Group

20 Years of Experience in Real Estate in California

When it comes to navigating the intricate landscape of California’s real estate market, experience is key. With two decades of unwavering dedication and an impeccable track record, there’s one real estate agent in California who stands above the rest – Darcy Woolman. As a real estate professional in the industry, Darcy has perfected the art of providing Comparative Market Analysis (CMA) to help clients make informed decisions in their real estate journey. Join us as we delve into the effectiveness of Darcy’s CMA approach and uncover why their clients trust them time and time again.

    CMA—Comparative Market Analysis

    Comparative Market Analysis (CMA) plays a crucial role in the real estate industry by providing a comprehensive evaluation of a property’s value. By comparing the subject property to similar properties recently sold in the same area, a CMA enables buyers and sellers to make informed decisions. For sellers, a CMA helps in setting an appropriate listing price based on the current market conditions and comparable sales data. It allows sellers to understand the competition and determine a competitive yet realistic asking price, maximizing their chances of attracting potential buyers. On the other hand, buyers benefit from a CMA by gaining insights into the fair market value of a property they are interested in. It helps them make educated purchase decisions and avoid overpaying in a competitive market. Overall, a CMA empowers real estate professionals and their clients with valuable information about market trends, pricing strategies, and the true value of properties, ensuring that transactions are based on accurate and up-to-date data.

    Comparative Market Analysis

    The first step to selling your San Diego area home is to get a skilled local Real Estate professional such as the Blair Owens Group to provide you with a CMA or Comparative Market Analysis.

    A comparative market analysis (CMA) is an estimate of a home’s value based on recently sold, similar properties in the immediate area. Real estate agents and brokers create CMA reports to help sellers set listing prices for their homes and, less commonly, to help buyers make competitive offers. Individuals can perform their own comparative market analysis by researching comparable properties

    Why Automated Valuations Are Bad

    Have you ever wondered why most of the internet sites that provide an “instant home valuation” such as Zillow or Trulia are typically off by 20% to 40%? The simple reason is that a computer analysis of home values can only take into account tax data, a trailing indicator. In an appreciating market, a trailing indicator will always put a home’s price too low. Why? These types of reports depend upon tax records. When a home is sold, the sale does not work its way into the tax data for as long as nine months after the sale.

    What Goes Into A Comparative Market Analysis?

    The analysis begins with us compiling a list of at least three similar properties within the same area that have sold in the last 3 – 6 months. If there isn’t enough sales data or if the potential purchasing price of a home is being calculated, we may also select properties that are currently listed on the market or pending. Even expired listings can be used to demonstrate the kinds of prices that are too high to attract interested buyers.

    A comparative market analysis is a crucial tool for estimating the value of real estate. If you’re a homeowner who is interested in listing your property for sale, a CMA will help you determine an appropriate asking price based on what sales prices similar homes in your area have received on the market.

    The Blair Owens CMA Advantage

    The real knowledge and understanding within a CMA are primarily due to the experience and expertise of a local real estate professional. Internet valuations are typically “quantitative” only. They take into account only numbers. The value of a Blair Owens Group Realtor is that their analysis is both quantitative using much fresher sales data than tax data, but more importantly, it is primarily qualitative.