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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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Q	What home is the best example of colonial architecture in homes designed to "grow" as the family grew?
A	The House of the Seven Gables in Salem, MA, that was the model for Nathaniel Hawthorne's novel of the same name.
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Debbie Wyrsch-Williams, REALTORŽ, real estate agent and broker for Sahuarita, Rancho Sahuarita and Pima County Arizona home listings, property and land for sale - NUMBER1EXPERT(tm)

Debbie Wyrsch, ABR
Coldwell Banker Success Southwest
180 W Continental Suite 100
Green Valley, AZ. 85614
Toll Free Direct: 877-273-2146
Cell Phone: 520-248-4663
Office Direct: 520-393-5497
Fax: 520-648-1180
Email: RealtorDebbieW@att.net
Experience, Relationships, and Technology - are only part of my formula for success in todays demanding hi-tech Real Estate marketplace. A consistent Customer Service Award winner and Top Producer, Debbie provides exceptional service to ALL Buyers and Sellers - the Professional Service You Deserve! My in-depth understanding of the Sahuarita, Rancho Sahuarita and Southern Arizona Real Estate market ensures that buyers have access to the broadest selection of homes to see. If choices, results and personal service matter most to you then dont trust just anyone with your Real Estate investment. I have helped hundreds move into their perfect home & I want to find your perfect home for YOU!

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