market value: The Components of Market Value
- 09/18/07 08:07 AM
I recently had a client stop and ask me what is market value? I proceeded to explain what market value is and how it is driven or influenced. I later thought that this would make a good topic to discuss in Active Rain. The true definition of market value according to "The Uniform Standards of Professional Appraisal Practice (USPAP) states: "the most probable price 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 the price is not affected by undue stimulus." The (0 comments)