His or her job is to determine an estimated value by inspecting the property, reviewing the initial purchase price, and weighing it against recent sales of similar homes with many of the same amenities, square footage etc. and then to make appropriate adjustments up or down to each of the comparable sales based on those updates or differences to arrive at an adjusted value of each comp. This will end up with allowing the appraiser to end up with a final value for the property they are appraising. COMPARATIVE MARKET ANALYSIS BY A REAL ESTATE PROFESSIONAL (CMA) This type of home valuation is free from real estate professionals (Realtors) and, depending on the knowledge of the Realtor, can be considerably more helpful than automated online offerings. It provides detailed information on each house sold in your area over the last six months to a year, along with the final sale price. It also includes the specifics of all the comparable houses currently for sale as well as currently under contract in your area, including the asking price. These homes are your competition. The real estate professional will also answer any questions and help you price your home realistically. Some CMA's may also contain expired listings which typically means they were probably overpriced and thus did not sell. Along with an understanding of how the value of a home is determined, the current market must be considered. By utilizing a professional real estate agent (like me), you can rely on 40+ years proven expertise in valuations to market your home at a price that will get the most showings and the highest offers. I will be happy to provide you with a Comparative Market Analysis. As you may or may not know from reading my bio, I owned a mortgage company and was in the industry for over 25 years. I had taken many appraisal courses and even received an IFA certification (independent fee appraiser) although I did not
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