Market Value

By
Real Estate Agent with Coldwell Banker United, Realtors

What does market value really mean?

Market value has always been defined as the price a buyer is willing to pay and the price a seller is willing to accept.  This assumes that they both have knowledge of the property and that the property was marketed. 

In this unstable and unreliable market there is still only ONE market value.   What the seller paid for the property or what the neighbor got 2 months ago has no bearing.  The buyer establishes the price. 

Comments (2)

Philip Jensen
Amerifirst Financial - Gilbert, AZ

That's is a great explanation and one I wish more home buyers and sellers could understand.

 

 

 

Philip Jensen

Arizona Mortgage Experts

Phoenix AZ Home Deals

Apr 29, 2011 04:48 AM
Bryan Robertson
Los Altos, CA

That's a nice reminder of the reality of pricing.  What a seller wants to get or what a comp sold for isn't necessarily what the current seller will get.  I often have to remind buyers and sellers of these facts.

Apr 29, 2011 04:51 AM