What is a CMA?
CMA stands for Comparative Market Analysis (or sometimes called a Competitive Market Analysis). A CMA is similar to an appraisal, but it is does not meet the criteria required for an appraisal. An appraisal is an unbiased opinion of the value of the property, but a CMA is prepared by someone with a bias (the preparer is either representing the seller’s interest or the buyer’s interest). A well prepared CMA should give you information about similar properties on the market and guide you to a conclusion about whether or not the property is reasonably priced.
