Avon Indiana real estate, Market Value versus value... (edit/delete)
Market value vs. value...
Avon, Indiana - Realtor Chris Castetter can help you best determine the market value for your property. Often times we do not stop to realize that there is a difference in market value versus value. When selling your home is the main goal, market value will be key.
market value n. The amount that a seller may expect to obtain for merchandise, services or securities in the open market. (The question to consider is this: "In today's real estate market, what will an educated, objective buyer pay for my property?" Remember, buyers shop by comparison and know the market sometimes better than a seller.)
Often times I am presented with an appraisal from a potential home seller, which usually tells me that the homeowner believes that this "appraised value" is what his or her home will sell for in today's real estate market. This is not the case usually...
An appraisal for an existing property is most often performed for the sake of refinancing a home to gain a second mortgage or line of credit (which I do not recommend.) also referred to as a HELOC. This
The lender will need to show a certain percentage spread to be able to make the loan and complete the refinance. Generally the appraisal is inflated to reflect a high enough value to cover the percentage spread needed. This does not reflect "market value". It reflects the value that the lender needs to see in order to loan you money. This is the case in Indianapolis or anywhere in the U.S.
appraised value v. to estimate the quality, amount, size and other features of;
value n. Worth in usefulness or importance to the possessor; utility or merit.
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