Home Buying in Wylie>Question Details

Matt, Home Buyer in Wylie, TX

Is there a way to get a CMA without using the realtor?

Asked by Matt, Wylie, TX Wed Dec 12, 2007

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Matt, Sure, call a "fee" appraiser and have them perform an apprsial for you. Cost is about $300-500 depending on the property. A "CMA" or Competitive Market Analysis is NOT an appraisal though it can get you a more realistic idea of the actual market than an appraisal. if you don't want to talk to a Realtor you can check the web-site Zillow.com. This site uses tax records and could give you an idea or ball park but it doesn't interpret the data for you. A Realtor is going to give the most viable comparables for your property but also show you the "competition" and what trends are happening in your neighborhood. Why is it you don't want to use a Realtor?
4 votes Thank Flag Link Wed Dec 12, 2007
Hi Matt:

Yes, there is a way, you just have to spend a lot of time learning about the houses that are on the market in locations near where you are interested in, that are sold and under contract in the previous months; be familiar with their features, characteristics, material used, architecture style, upgrades, lot size, square footage, landscaping, floor plan, etc, etc;then you have to learn about the market trend, year before, current and prediction, and so on, then you have to find out what the buyers like at current time and how and if that has changed over time, and so on,

After you gather all that information, you put the house you are interested in next to those houses, than you can figure out what the price might be for the house. You should be able to explain your theory and able to convince whoever who is listening. Then you might be close.

i would not use Zillow - just got a call from my client wanted to know why the house they are interested in was just bought for $100,000 according to Zillow (market value $600,000). Well that's a bank owned property, the bank paid off the 2nd loan ($100,000), assumed the first loan of $500,000 and guess what zillow showed. Don't think my client would get that for $100,000

Sylvia
2 votes Thank Flag Link Wed Dec 12, 2007
Sylvia Barry,…, Real Estate Pro in Novato, CA
MVP'08
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For a cursery CMA you could use zillow or cyperhomes.com. Best advise would be to have a local realtor provide one for you at no cost. good luck.
2 votes Thank Flag Link Wed Dec 12, 2007
Pam Winterba…, Real Estate Pro in San Ramon, CA
MVP'08
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There is not a good web site to get data because (if you think about it) a buyer would never decide how much they would pay without walking thru your home.
Most of the websites use poor sales data anyway and are not even within the ballpark of being correct.

If you are in Texas and are willing to be thousands off, and don't want anyone coming out to your house, I would simply look at the Tax district data- it is closer than all these other websites because at least it often uses good comparables. But again they never walk thru your home so they are often way off.

A Realtor will often come out to your house and give you their valuable opinion without charge and without obligation. If you want good data, that is what I would suggest.
1 vote Thank Flag Link Mon Dec 17, 2007
Most any realtor, if they are doing their job, would be happy to assist you with a no cost comparison market analysis. It is a service that most of us in this profession do as a courtesy, no strings attached. Creating good will and giving good service to the communities we work in is the largest part of what we do. I would imagine that if you ask, you shall receive.
Web Reference: http://www.myketriebold.com
1 vote Thank Flag Link Wed Dec 12, 2007
For a down and dirty estimate of value, go to http://www.zillow.com.
Good Luck.
1 vote Thank Flag Link Wed Dec 12, 2007
There are mulitples of websites that will provide a computer generated CMA. Matt...for the fact that your profile says home buyer I would assume that you are looking to find the value of a home that you are interested in buying...is this correct?

A computer generated CMA will not provide you with expert interpretation and/ or knowledge of the market trends within your area. Plus a computer generated CMA typically does not include seller concessions etc... this is information that an agent is privy to.
1 vote Thank Flag Link Wed Dec 12, 2007
You could hire an appraiser on your own. That should give you a good idea on value.
Web Reference: http://GetPrequalified.com
0 votes Thank Flag Link Mon Dec 17, 2007
Try using Zillow or RealEstateABC.com to get values... it's not always accurate though... Also, check out ReNewsYouCanUse.com for all your real estate news..... - Ruben
0 votes Thank Flag Link Fri Dec 14, 2007
Matt... I agree with all the others that Zillow is not accurate on market values.
0 votes Thank Flag Link Thu Dec 13, 2007
Matt, do NOT use zillow. It does NOT work in Texas.

Texas is a non-disclosure state and zillow gets their data from the public records and the only thing published is the deed of trust which shows the amount borrowed NOT the amount paid for the property.

So the answer is you can get a CMA by asking a realtor, most of us do this as a service at no charge as a gesture of giving back or you can hire an appraiser and pay $350 and get a professional appraisal.
Web Reference: http://www.sumnerrealty.com
0 votes Thank Flag Link Wed Dec 12, 2007
Not really...you can patch together info from the government agencies, but the reason for a CMA should be two fold:
1) To get the CMA
2) To understand what is happening in Real estate pertaining to the subject property within a specific timeframe.
3) To reduce your risk of not selling, or not selling in a timely manner by being able to best present your property to the potential buyers at a price you and the potential buyer can live with
Web Reference: http://iansellsnola.com
0 votes Thank Flag Link Wed Dec 12, 2007
Hey Matt. I'm going out on a limb here and guessing that you don't trust Realtors.....Am I right? That's O.K. I have heard it a thousand times. I am not here to alter your opinion but I do want to point out that all the free helpful responses have been from realtors.

I suggest you call local real estate agent Crystall Jackson (214) 532-8334. I am sure she will help you with your issue and if you are not happy with her performance, I will personally send you a $50 gift certificate to Lowes or Home Depot. Your choice.

Please let me know how it works out either way.

I wish you the best of luck!

Keith Carberry
http://www.ReNewsYouCanUse.com
866-294-0853
0 votes Thank Flag Link Wed Dec 12, 2007
I will provide a CMA at your request...
0 votes Thank Flag Link Wed Dec 12, 2007
Hi Matt......do you not want a realtor involved as you think there will be a fee? Generally, a realtor would be happy to do a CMA for you at no charge and no string attached.

I hope that helps to change your mind. Get a qualified professional to do it, a Realtor.

Thanks, Todd
Web Reference: http://www.toddnorsted.com
0 votes Thank Flag Link Wed Dec 12, 2007
Matt,

I am in Tallahassee FL. I am sure you could just ask one of the Top Agents in your area.

Why would you not want to get a CMA from a professional?

Chris
0 votes Thank Flag Link Wed Dec 12, 2007
To prove a point.... Realtors best guess at comps is just that. I am a realtor, did my own CMA . I also had my wife call two other agents from different brokerages. Only one comp was shared by all. One realtor only used three comps. There was a difference of 34,000 on the same home between the other two realtors. House value around $260K. Enough said.
Flag Fri Apr 11, 2014
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