What is a comparable market analysis (CMA)?+
A comparable market analysis, or CMA, is an estimate of what a home could sell for, read from the recent closed sales of similar homes nearby. Real estate agents prepare one to price a listing or an offer. It is a market opinion and not an appraisal: no state-licensed appraiser prepares it.
What is my home worth in Coral Gables?+
A Coral Gables home is worth about what comparable homes near it have recently sold for. This page reads the closed sales most like your home nearby from the MIAMI REALTORS® MLS: the same kind of home, on the water or off it as yours is, of a similar size and age. It says the figure they point to and, where they closely agree, the range most homes like yours sold in. Your home's living area and year built come from the Miami-Dade County Property Appraiser's record, and your answers on its kitchen, bathrooms and upkeep go to Julian Acosta with the analysis: they move no figure. The range is an estimate, not an appraisal, and Julian Acosta reviews it by hand on request.
How is a CMA different from an appraisal?+
An appraisal is prepared by a Florida-licensed or certified appraiser under the Uniform Standards of Professional Appraisal Practice (USPAP), and a lender can rely on it. A comparable market analysis is a reading of comparable sales by an agent or by a tool such as this page. It cannot be used for a mortgage, a court, a tax appeal or an insurance claim.
How accurate is the range this page gives?+
It is an estimate, and it can be off. The page reads closed sales, the public record and your answers. It does not know your home's condition, has seen no photographs, and nobody has visited. Two homes of one size on one street can close far apart for those reasons, which is why Julian Acosta reviews an analysis by hand on request.
Which sales does the page compare my home with?+
The closed sales nearest your home that are the same kind of property, on the water or off it as your home is, closed in the last twelve months and no farther than 1 mile, with a living area within 10% of its own and built within 10 years of its year. Each is widened by steps only while fewer than 3 are found: the size up to 25%, then the years up to 30. Up to 12 are shown and the 6 nearest are checked. A house in one of the site's markets is read another way: the 15 sales of its own market most like it, up to 25% larger or smaller and built within 30 years, each adjusted for size and lot by that market's own sales. With fewer than 3 sales found the page states no range.
Can I choose which sales my home is compared with? 12 sales to choose from+
Yes. The page shows up to 12 closed sales and checks the 6 nearest; for a house in one of the site's markets it shows up to 15 and checks all of them but a sale that stands far from the others. You can take the check off a sale that is not like your home or check another, and the range is read from the checked ones, 3 at least. The page then says the range is by your selection, and a request sends Julian Acosta both lists: yours and the rule's.
Do my answers about the home change the range?+
No. Two answers describe the home: how its kitchen and bathrooms are finished, and how it has been kept. The sales cannot show a home's finish or its upkeep, and the page has no measured rule to put a price on them, so your answers go to Julian Acosta with your analysis, and he weighs them when he reviews it. The answers are yours: nobody has seen the home. A last question asks when you plan to sell: it moves no figure either.
Where do my home's facts come from?+
From Miami-Dade County's public property record, the Property Appraiser's roll: the kind of home, its bedrooms and bathrooms and its living area. The page asks that record nothing about who owns a home. The guide asks whether they are right and you can correct each one, since an addition or a new house may not be on the roll yet.
Which areas does the comparable market analysis cover?+
All of Miami-Dade County: any home the public record holds. In the site's markets — Coral Gables, Coconut Grove, Miami Beach, Brickell, Key Biscayne, Pinecrest, South Miami, High Pines and Ponce-Davis — the page reads closed sales at every price; in the rest of the county it reads closed sales from $1,000,000. Where fewer than 3 comparable sales closed nearby, it says so and Julian Acosta can run the analysis by hand.
My home is listed with another broker. Can I use this page?+
Yes, with one difference. For a home that is listed for sale the page states no price range; where enough comparable homes closed nearby, it still shows the market's recent closed sales. Questions about a listing and its price belong with the listing broker.
What happens when I ask Julian to review my analysis?+
The form sends him your home's facts, your answers, the sales on the page and, where it states a range, the ones it is read from. Julian Acosta, real estate advisor with Compass, checks them against what a formula cannot read — condition, renovations, the lot, the view — and answers within one business day, by e-mail, on WhatsApp or with a call: you choose in the form, and it asks a phone number only for WhatsApp or a call. A request sent on a Friday is answered on Monday. There is no cost and no obligation.
Does the comparable market analysis cost anything or need an account?+
No. The page is free and asks for no account, no e-mail and no phone number to show the sales and the range. An e-mail is asked only if you choose to have the analysis or its link sent to you, or to write to Julian Acosta, and a phone number only if you ask him to answer on WhatsApp or with a call.
Can I come back to my analysis later?+
Yes. As you answer the page's questions, it saves your analysis, and the link you share or copy from your result opens it again as it was computed, with its date. From the saved analysis it can be run again with that day's sales: the new reading is written over the old one under the same link, and the earlier range stays in it with its day. From your result you can also have it sent to your e-mail, and the first screen sends that link again to an e-mail that asked for one. The page saves the home's address, the facts and answers you gave about it, the sales it showed and the range it stated, and, if you ask for it by e-mail, that e-mail. It asks no name to run one, and anyone who has the link can open the analysis.