Talking Charlottesville Real Estate - What Is Fair Market Value

By
Real Estate Agent with Gayle Harvey Real Estate, Inc.

When you are selling a Charlottesville home one of the terms you hear a lot is fair market value. But what exactly is meant by fair market value and how is it determined?sold home

Fair market value is the price a qualified buyer will spend to buy your home. 

Fair market value is not

  • How much your home is assessed for
  • How much you need to sell your home for to pay off your mortgage
  • How much your next door neighbor's home sold for
  • How much you need to get inorder to buy the next home you want

If you want to sell your home in todays market, it is crucial to price it correctly.  Price is the most important determining factor as to whether your home will sell.  When your home is at the correct price, offers will come.  If you are serious about selling your home, it is helpful to have the assistance of a qualified real estate professional to assist you with setting the price.

Posted by

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the umbrella to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
Home Selling
Groups:
Addicted to Active Rain
Realtors®
The Art Of Marketing You
VA-RAIN
WHAT'S HOT IN VIRGINIA
Tags:
selling your charlottesville home

Comments 4 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the pencil to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainer
65,537
Carol Costanzo
GRI, SFR
Montague Miller and Company

You are right Pam, overpriced listing just sit and gather days on market. Buyers are very savvy and many times will not even come to look at them because "the seller is not realistic, and I don't want to waste time."

November 19, 2010 10:11 PM
Ambassador
383,229
Pam Dent
Realtor - Charlottesville Virginia Homes and Horse Farms
Gayle Harvey Real Estate, Inc.

Carol - The sellers don't understand that the buyers often think that there is no point in making an offfer.

November 19, 2010 10:27 PM
Rainmaker
1,054,979
Wallace S. Gibson, CPM
LandlordWhisperer
Gibson Management Group, Ltd.

The tax assessed values of properties in Virginia are more valuable in determining FMV than in other states which have artificial discounts like CA Prop 13.....it is a good place to start

November 22, 2010 06:35 AM
Ambassador
383,229
Pam Dent
Realtor - Charlottesville Virginia Homes and Horse Farms
Gayle Harvey Real Estate, Inc.

Wallace - It is a good place to start.  How much under or over assessed value that homes are selling at may vary by neighborhood.  It is often a good idea to look at past sales and compare the sale price to the assessed values.  There may be a helpful pattern.

November 22, 2010 11:03 AM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the man to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Ambassador
383,229

Pam Dent

Realtor - Charlottesville Virginia Homes and Horse Farms
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the folder to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information

Feedjit Live Blog Stats
free web page hit counter