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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
Q 
What Elvis Presley film showcased Coco Palms in an outrigger canoe wedding scene?

A 
Blue Hawaii (1961)
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Jane M. Maslowski, REALTOR®, real estate agent and broker for Lansdale, Harleysville and Blue Bell, Pennsylvania home listings, property and land for sale - NUMBER1EXPERT(tm)

Jane M. Maslowski
Keller Williams

910 Harvest Lane
Blue Bell, PA 19422
Phone: 215-646-2900
Direct: 215-646-6607
Cell: 215-990-7706
Email: janemaslowski@NUMBER1EXPERT.com
R. E. Licence: AB060470L
EMail: Jane@JaneMaslowski.com

Thank you for visiting my site! I am a seasoned full time associate broker who has been in this career field since 1988. I specialize in the marketing and sale of residential properties throughout southeastern PA and Delaware. My team's goal is provide quality service with quick response time with the result you desire.

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