Fair Market Value

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Fair Market Value = How to sell your property for the best price, in the shortest amount of time with the most favorable terms and conditions.

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FACTORS AFFECTING VALUE

>  Supply & Demand

>  Seasonal Markets

>  Mortgage Market

>  Economic Conditions

>  Political Actions

>  Location, Location, Location

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METHODS OF EVALUATION

Market Value Approach  |  Using comparables sales

Income Approach  |  Used primarily for income properties

Cost Approach  |  Used primarily for insurance and replacement value purposes

Market value approach is the highest value, estimated in terms of money, which a property will bring if exposed for sale in the open market, allowing a reasonable time to find a willing purchaser in current market conditions.

Related Posts

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    This diagram shows the segments of prospective purchasers who are likely to want to see your property based upon the relationship of your asking price to its fair market value. CUSHION FOR NEGOTIATION? If you want to have a cushion for negotiation you must still have people to negotiate with. …
    Tags: property, market, fair

Jason Boone | Principal Broker, CRIS | Duke Warner Realty | Skjersaa Group
Oregon Real Estate Licensee | 1033 NW Newport Ave Bend, Oregon

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