Which of the following analyses must be prepared by a certified appraiser?

While a competitive market analysis (CMA) provides valuable insights into property values by analyzing recent sales in the area, it does not require certification by an appraiser. CMAs can be performed by real estate agents and are typically used for pricing properties rather than for formal lending purposes.

A price opinion, similar to a CMA, gives an estimated value of a property but is not considered a formal appraisal. It can be conducted by various real estate professionals, including agents, without the need for a certified appraiser, especially in the context of short sales where quick assessments are often needed.

This type of analysis focuses on investment potential and market trends rather than determining a specific property value. It is typically conducted by real estate analysts or consultants and does not necessitate the expertise of a certified appraiser.