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Property Value | REALTEAM Real Estate Blog

Friday, November 8, 2024   /   by Jason Salem

Understanding Comparative Market Analyses (CMAs): How They Help You Know Your Home’s Value

A Comparative Market Analysis (CMA) is a crucial tool for homeowners looking to understand the value of their property. Whether you’re considering selling or simply want to keep track of your home’s market position, a CMA provides a detailed look at comparable properties in your area. Here’s a breakdown of the steps I take to create a market report, which includes an in-depth CMA to give you accurate insights into your property’s value.
Step 1: Gathering Market Data
To ensure accuracy, I use data from the MLS (Multiple Listing Service), specifically Realcomp, which shares information across most MLSs in Michigan. This allows for a comprehensive view of all comparable listings and recent sales near your property.
When gathering data, I focus on three main types of Listing Status:
Active – Homes currently on the market.
Pending – Homes that are under contract but haven’t closed yet.
Sold – Homes that have closed recently, provim ...

  home value, real estate value, realtor, cma, comparative market analysis, home selling tips, michigan realtor, property value, real estate market trends, selling your home

Friday, November 8, 2024   /   by Jason Salem

Moving to Farmington Hills, MI: Everything You Need to Know

Moving to Farmington Hills, MI: What You Need to Know

Farmington Hills, Michigan, is a vibrant city known for its welcoming community, excellent schools, and abundant amenities. Whether you're relocating for work, family, or simply a change of scenery, here are some essential facts and resources to help make your move to Farmington Hills a seamless experience.


About Farmington Hills, MI

Location and Size: Farmington Hills is a suburban city in Oakland County, just northwest of Detroit. It covers about 33 square miles, offering a mix of residential, commercial, and green spaces.

Population and Demographics: With a population of around 81,000, Farmington Hills has a diverse community that brings a vibrant mix of cultures, age groups, and family sizes.

Education and Schools: The city is part of the highly-rated Farmington Public School District, which includes numerous public schools known for academic excellence. Farmington Hills also has a variety of private a ...

  real estate value, realtor, jason salem, michigan realtor, property value, real estate market trends, farmington, farmington hills, michigan, moving

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The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. .IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing and that the data is deemed reliable but not guaranteed accurate by the MLS. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. Provided through IDX through Realcomp II Ltd. Courtesy of Tom Lower - REALTEAM Real Estate. Copyright 2025 Realcomp II Ltd. Shareholders
MIMLS Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource. The information published and disseminated by MiRealSource is communicated verbatim, without change by MiRealSource, as filed with MiRealSource by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright 2025 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc. Provided through IDX via MiRealSource, as the "Source MLS", courtesy of the Originating MLS shown on the property listing, as the Originating MLS. The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright 2025 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.
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