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Comparable Market Analysis
There is only one basic determination of the value of a home:   the date the sale is closed and the deed to the property transferred.   At that time value is established -- it is the Contract Price of the property that is entered on the HUD Settlement Statement  (and reported to the IRS).  Banks use this figure to decide if they'll grant the Buyer a loan to buy the house.
 The property must "appraise out" at contract price. 
 Other factors may apply:  was it an arms length transaction?  Were Buyer and Seller equally knowledgeable?  And acting without duress?   Was the property fully exposed to the market place for a reasonable amount of time?
Before a listing is finalized, a market price must be estimated - using the recent closed sales in the community as a guide to value.  Byrd and Dean are experts in determining market value.  We use depreciated cost replacement as well as the traditional sales grid in arriving at the estimate.

See for yourself the organization and detail of an actual CMA

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