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Preparing an Accurate CMA

Aug 27, 2008
Many Realtors ask us how to prepare an accurate Comparative Market Analysis. The following is an outline of presentations given at Realtor Training Sessions.

Use a subdivision specific search as the first step, in both MLS and Public Records.

No more than 3 months from date of valuation, for selection of sales.

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.

Try to find sales without 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
About the Author
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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