The world of real estate is littered with acronyms. As a buyer, you may have come across a few of the common ones: FSBO (for sale by owner), LTV (loan to value) and UAG (under agreement). Have you heard of a CMA? CMA, which is the shortened form of comparative market analysis, is not only a good acronym to know, but also an important topic to understand.
A comparative market analysis is used to determine a home’s fair market value by evaluating similar properties (comparable or “comps”).