Can CMA's be trusted
My wife and I are looking at our first real potential purchase to begin investing. I don't know if I'm experiencing all the F.E.A.R. (false evidence appearing real) that comes with the first deal, but I can't seem to bring myself to buy in on three Comparative Market Analysis that have been performed for the subject property. All the comps look pretty similar in age, sqft, and location. The CMA's, based on the comps, say the house can be sold for around 75K (except for one that came in way low, which I think was prepared wrong), but I don't think I can get more than 69K for it and may likely sell for 62K to make a fast sale. $80/sqft vs. $65/sqft.
So the question stands... Can a well done CMA be a good indicator to the likely FMV of any subject property??? Any comments are greatly appreciated. Thanks to all for your input.