What is an Appraisal-Like Valuation and how does it differ from a (CMA) comparative market analysis?
What is an Appraisal-like valuation and how is it better than a CMA? A CMA is a Competitive Market Analysis and compares comparable properties (properties like yours) using square footage, number of bedrooms, and some other “quantitative” criteria. It does NOT take into consideration the condition of the property, or any view it might have, or if it’s on a busy street, or in a flight path, or near a landfill, etc., etc. These are “qualitative” criteria and an Appraisal-Like Valuation makes adjustments for these factors as well as “quantitative” factors. Obviously, Buyers look at both “quantitative” and “qualitative” features to make their decision and so should an estimate of value.