Hey everybody! This is my first forum post ever I think but I've been creepin for a while lol. Anyway, my background is that I'm Real Estate Broker here in North Carolina and an Active Duty Marine. I have one rental property and I'm always looking for another. A problem that I ran into though is that I'd always find myself doing CMA's for myself or for clients and I'd be using the exact same formulas and writing out the exact same charts onto a piece of paper every single time and kept thinking that there has to be a way to automate that process. Well, I searched around a bit and found a couple of calculators that sort of suck so I just created my own. It took a bunch of time but I think it came out okay. This calculator allows you to input your local market's value for certain things like a bathroom or a garage so that this isn't just a one-size-fits-all solution. With this, you can even "Save as a PDF" and it results in a sheet that you can print out to present as proof of an ARV or as part of your marketing package if you're a wholesaler. I realize that there are about 1,000 different methods of calculating a CMA and that everyone's method is the best so if this doesn't work for you, then so be it. For everyone else that wants to be able to save a bit of time by being able to plug and play, you can find the CMA generator at this link: https://www.biggerpockets.com/files/user/ThomasE10...
Thank you and I hope it helps!
On a side note, this isn't quite my first post. I just didn't even remember the other ones because they were so long ago haha
@Thomas Enright If you're a NAR member, RPR will make pretty CMAs. There are others like CLoud CMA too.
I dislike those - especially those with automated value algorithms. I much prefer to do comps manually in a spreadsheet. It's much less visually confusing and straight to the point.
THe header of my comps looks like this:
|Style||Rooms||Beds||Baths||Sq. Ft||Acres||Garage||Bsmt||Septic||DOM||REO/SS||Built||Cond.||Sell $||$/SF|
Each of those items are the main drivers of value. I keep the comps as close to .25 miles and sold within 6 months as possible.
The next section down lists the comps I've picked. The following section is what's on the market now.
I find the simplicity of the format is a lot easier to understand for all concerned.
Updated over 2 years ago
Well, that header didn't post the way it looked in my comment. Across the top, the columns are: Style, Rooms, Beds, Baths, Square Feet, Acres, Garage, Basement, Septic, DOM, REO/SS?, Year Built, Condition, Sell price, $/sq ft. I hope that's more clear.