Washington State Real Estate Practice Exam

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What factors are typically included in a Comparative Market Analysis (CMA)?

Current market trends
Recent property sales
The seller's mortgage details
The buyer's financial status

The correct answer is: Recent property sales

A Comparative Market Analysis (CMA) typically includes several key factors that provide insight into the property’s potential market value. Recent property sales are crucial in this analysis, as they establish a baseline for determining how similar properties are valued in the current market. By analyzing sales data from comparable properties, real estate professionals can estimate a realistic selling price for the property in question. Factors typically considered alongside recent property sales include current market trends, which help in understanding the broader market dynamics affecting property values. However, the seller's mortgage details and the buyer's financial status are not included in a CMA. These details are more about the specific transaction or the individual parties involved rather than an analysis of the property’s market value itself. Hence, recent property sales provide the concrete data needed to conduct a CMA effectively, making it a fundamental component of this analytical process.