Fairfax and Northern Virginia Competitive Market Analysis CMA

Fairfax Northern Virginia's Listing Agents Ellen Crawford Offers A FREE CMA for Fairfax and Northern Virginia Home Sellers

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Fairfax Virginia Homes For Sale - Home Values

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Selling Your Home in Fairfax?

Want the Best Possible Price? What is your home Worth? Contact Me Now!

Selling your home in Fairfax? Want to know what your home is worth in northern Virginia or suburban Washington DC? "What are homes going for in my neighborhood?" Want to know how much your home appreciation is? Need a Free Competitive Market Analysis or a FREE CMA to determine the value of your home in Fairfax? Planning a move, purchase or relocation in the Fairfax area or across the nation? If you're buying or selling your home or relocating to or from the Fairfax northern Virginia, and metro suburban Washington D.C. Search for homes and MLS listings in: Alexandria, Baileys Crossing, Burke, Chantilly, Reston, Annandale, Warrenton, Fairfax City, Oakton, Reston, , Dunn Loring, McLean, Vienna, Tyson's Corner, Great Falls, Herndon, Fair Oaks, Falls Church, Springfield, Clifton, Centreville, Falls Church, Mt. Vernon, Fairfax Station, Newington, Mt. Vernon, Merrifield, Greenway, and Virginia. I also cover northern Virginia counties in my real estate business, and offer exceptional real estate service for northern Virginia homes for sale in: Prince William County, Loudoun County, Arlington counties, and suburban Washington D.C.? Then I can help. As full time, fully professional experienced REALTORS®, I offer a FREE Competitive Market Analysis (CMA). Whether you are selling or buying, I can handle all the details. Experience Matters!

A FREE CMA, "Competitive market analysis" or "CMA" is just an estimate of value prepared by a real estate agent or salesperson that shows recent past sales for like properties and suggests a possible asking price for the owner's property.

What's My Home Worth in Fairfax Northern Virginia or suburban Washington DC ?

For Fairfax Virginia Home Sellers

A Comparative Market Analysis (CMA) is an estimate of sale or selling price for a property given current market conditions. It is not a formal appraisal. A formal appraisal is a professional estimate of your homes or property value by an appraiser. A CMA is an estimate of value. However, a CMA will encompass sales of similar properties that have sold in your neighborhood with in the last 6 month. I will prepare a CMA for you in report form. There is no fee associated for preparing a CMA. It gives my clients an estimate of the properties current value or valuation when selling a home in Fairfax northern Virginia, or Washington DC suburbs. It will assist you in determining what homes are selling for in your neighborhood, and what is the best price to list your home for sale at.

To do a CMA, I need to walk through the property in question before presenting my analysis. Unless there are a lot of concerns, the entire CMA process shouldn't take long. The conditions of the property are a major factor to be considered when pricing a home. Since property condition does affect price, if you have specific plans to do work on the property, let us know. It will be factored into my final CMA.

After we review your property, our research in the Multiple Listing Service will be reconciled to your home or property with information about similar properties in the area that have recently sold. In order to arrive at a current price estimate, I will analyze information about listings that have sold and closed, those that are sold but haven't yet closed (pending sales), active listings and expired listings. It is not wise to base your list price on the list prices of you neighbors. That is not what they actually sold for. We look for a historic base.

So when preparing a CMA, it is also important to compare only similar properties. It is smart to compare "Apples to Apples!" I make sure that only houses that are extremely like yours will be considered. These homes will have similar square footage, similar styling (one-story, two-story), and will be located in your neighborhood or one that is very similar and close to your current property.

After comparing location, style, and size, we look at other features: number of bedrooms, baths, size of the garage, the age of the home, size and relative privacy of the lot, upgrades or improvements, and other amenities will be considered. The rooms finished in your home is important also. Does the property have formal dining? A formal living room? Is the basement finished, and is there a basement,? How the home appears, and how well your home shows are other factors to be considered when determining an estimated listing price wit a CMA.

I then assemble all of this data and observation into a report called a “comparative market analysis,” the CMA. This will then become the foundation for determining the best listing price to ask for your home.

Pending and sold listings are the most reliable indicators of current market price. Available inventory also has to be factored in to the equation. Are there too many listings available, or is there a shortage of homes has to be considered also. Active listings are also a gauge of your competition in the marketplace. Expired and withdrawn listings are homes that were listed for sale but for some reason didn't sell. Usually, the most common reason expired listings don't sell, they were priced too high or major updates or repairs are needed..

The results from the CMA's, neighboring SOLD homes found in the MLS search, are then reconciled to your home and current condition.... I then arrive at a suggested selling or listing price. Keep in mind that the price derived from a CMA is subjective. Again, a FREE CMA is not an appraisal. You need to hire a licensed appraiser for a complete appraisal.

I recommend strongly that Fairfax northern Virginia and suburban Washington DC home sellers should have a CMA done prior to listing their home for sale. When it comes to selling home, the fewer surprises the better! Also, it affords you the opportunity to meet me, and view my marketing strategies that I will implement when marketing when selling your home or property.

For Fairfax Home Buyers

Buyers should request a CMA on a property they are considering buying. This is especially true if they are new to the area and haven't had the opportunity to see many listings, or know what homes are selling for! It is good to be an informed consumer. and it is not good to buy the most expensive home in the neighborhood!

As full time, professional agent, I work actively in the area where the property is located. The Internet has made it possible for virtually anyone to access comparable sales information. However, without firsthand knowledge of the comparable properties and the local marketplace. this information could be inadequate

An example, quality upgrades usually have a positive effect on sale price. But if your home improvements are inferior in quality or design they can lower rather than increase the price. Suppose the information on a sold listing shows a remodeled kitchen. Without having seen the property, it's difficult to know how the remodeling affected the price.

Also, sometimes our CMA gives a price range rather than a set price. You're more likely to see this in markets were there is variation in terms of property size, age, architectural style and condition.

If you are buying a home in Fairfax northern Virginia, or suburban Washington DC, you should ask for a list of comparable (similar) homes in the area that are currently listed or that have recently sold. This is important to see if you are overpaying, or negotiating based on the condition of current home (deductions for: repairs, carpeting or painting). If the information isn't available, you can take the original purchase price of the home and add or subtract the cost of any improvements and estimated property appreciation since the home was last purchased. When needed, estimates from vendors will allow you to get a grasp on actual costs. County tax records show purchase prices, but may not show all the extras if they were paid for cash, or the improvement work was performed by the owner. As your Buyers Agent, I can assist you with rough estimate of annual appreciation.

Also, if you're not comfortable about the value of the property you are bidding on, then have a appraisal contingency built into in your purchase offer. If the appraisal comes in low, you may negotiate or withdraw offer. As your Buyers agent I can advise.

If you enter negotiations with a seller, you might want to have some extra time built into the contract in writing before responding to a counter offer. If the seller doesn't receive other offers in the meantime, your offer may start to look good. And if someone else places an offer on the home in the meantime, you've not placed yourself in a position to overpay or get into a bidding war. It is good to walk away rather than overpay.

Above all, in all matters "time is of the essence", and act in good faith, and remove emotion from the offer. Also, make sure that if you are unable to meet a deadline, get an extension in writing. All real estate contracts, and any modifications, amendments to them, and offers and counter-offers should be in writing to be binding.

If your home is currently listed, this is not a solicitation of that listing. Please excuse our active marketing.

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