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Real Estate Tips
About Appraisals >Fair Market Value

What is the best price for a piece of real estate? Mortgage lenders, appraisers, and real estate brokers use what is called the "fair market value" (FMV). FMV has been defined as "the price that a buyer is willing to pay and the seller is willing to accept, when both parties are knowledgeable about the property and neither is under any time pressure to buy or sell". Sounds great, but how is this price determined?

The starting point for determining a fair price may be an opinion of the value or "comparative market analysis". Such an analysis uses information on similar properties which are: 1) currently for sale, 2) already sold, or 3) expired properties (those which did not sell). Local, national and international trends and market conditions must also be evaluated.

By comparing similar properties in each of the three categories and the market conditions, appraisers, lenders and agents come very close to the maximum price that buyers would be willing to pay for a house.

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Real Estate Trivia
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What is the legal term used to describe the right of the U. S. government to condemn private land for public use?

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Right of Eminent Domain allows the government to confiscate private land by paying full market value for the property.
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Your Results That Move Team, REALTOR®, real estate agent and broker for Acworth, Dallas and Kennesaw, Georgia home listings, property and land for sale - NUMBER1EXPERT

Your Results That Move Team
Judi Wilcher of RE/MAX Unlimited

5205 Stilesboro Road
Kennesaw, GA 30152
Direct: 404-316-2152
Office: 770-419-1986
Fax: 770-218-0018
Email: JudiWilcher@NUMBER1EXPERT.com

Buying and selling real estate has never been so stress-free! We enjoy what we do and our enthusiasm is contagious. For some agents, it's about challenge; for others, it's about money. For us, it's about making dreams come true. The excitement we feel from helping our buyers find that perfect home or negotiating the best terms and price for our seller is invigorating. The secret to our success? We offer old fashioned service. We listen, we know the market, and we provide the latest in today’s technology so you can relax and enjoy your home buying or selling experience. Combining Today's Technology with Old Fashioned Service for Results that Move!

ABR Equal Housing MLS REALTOR SRES


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