brainerd lakes real estate: Do your Buyers and Sellers understand the true definition of Market Value?
- 12/14/08 02:40 PM
Definition of Market Value Here's the definition of market value used by the International Association of Assessing Officers (IAAO). Market value is the major focus of most real property appraisal assignments. Both economic and legal definitions of market value have been developed and refined. A current economic definition agreed upon by agencies that regulate federal financial institutions in the United States of America is: The most probable price (in terms of money) which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming … (7 comments)
brainerd lakes real estate: Here's Phase II of "If you are not willing to compete in this market, I am not willing to list your property."
- 12/05/08 11:41 AM
After some discussion, my Seller finally agreed to list with me at my price. His property had expired after being on the market with another broker for 1 1/2 years. He was reluctant to drop his price, however, I wasn't willing to take the listing unless he was willing to compete in this market. Today we have a contract! :) My Seller is happy and the Buyers are happy. It was a fair deal and we are closing before the end of the year! … (4 comments)
brainerd lakes real estate: A wood floor spooked my buyer ... and the home inspector!
- 12/04/08 11:11 PM
There is no concrete slab; the wooden floor was built directly on the top of sand ground. The foundation is wood also. The home was built in 2000 and apparently codes have changed since then. There has been discussion with regard to wood foundations as well. I'm wondering if you have any thoughts or experience with this. … (32 comments)
brainerd lakes real estate: Do you have the guts to do it?
- 11/19/08 01:10 PM
Go paperless! I was going to take a picture of my piles of files to make a point, but chose not to embarrass myself. I'm contemplating going paperless, having everything scanned, and chucking the paper. Why is it so hard to let go of these files? … (22 comments)
Definition of Market Value
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