Fair market value is an important real estate metric for investors, buyers and sellers. It can help you determine the best possible asking price for a home sale or whether a home you want to buy is a good deal. However, unlike many other pieces of the real estate puzzle, fair market value can be complicated to find. Here are the basics of fair market value to help you get a better understanding of this important term.
The fair market value of any property equals the price that a buyer would pay in the current market climate. It’s an estimate based on multiple fluctuating factors. Rather than the intrinsic value of the property in any market, the fair market value can be affected by economic trends, such as supply and demand. Therefore, the fair market value of the same property might be different in two different places or at two different times.
You can find the fair market value of a property in several ways:
I believe that technology is important but it can never replace a Real Estate Professional. As a full time Realtor® I bring market expertise and negotiating skills to the table. Being a local homeowner and long time resident of San Mateo county I have first hand knowledge of local laws, neighborhoods and our schools.
My business is about relationships and service and I am looking forward to serving your real estate needs with the highest level of quality.