Michele Buckman has put together some videos discussing the current DC market and what the future may hold for the real estate market in the Washington DC area.
When selling your Georgetown real estate, you want to be sure that you – and potential buyers – understand the value of your home. Two ways used to determine home value are usually a comparative market analysis (CMA) and a professional appraisal.
A CMA is:
An appraisal is:
If both the CMA and the appraisal are done appropriately, they will be similar. If the appraisal comes in lower than the asking price of your Georgetown real estate, and the bank will not make the loan, and the seller will likely have to reduce the price for the buyer.
For more information on CMAs and appraisals, please contact Georgetown real estate expert, Michelle Buckman, with Buckman Realtor. Michelle Buckman is an expert Washington DC Realtor showing the best Washington DC Real Estate. Michelle Buckman represents W.C. & A.N. Miller, REALTORS®, A Long & Foster Company, properties in Georgetown, Chevy Chase, Northwest Washington DC, Capitol Hill, and the up and coming Trinidad DC neighborhood. Michelle is a licensed realtor in Washington DC, Maryland, and Virginia, and is ready to help you buy or sell your home.