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California State Fair July 14 – 31.
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Buyers Want Your Home for as Little as Possible.
Are you thinking of selling your home? You should know exactly what it's worth before making such an important decision.
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Why Sellers Choose Pam Murray - Why home sellers in El Dorado Hills, Shingle Springs and Placerville choose Pam Murray. Free Presentation - Free in-home listings presentation on marketing your El Dorado Hills, Shingle Springs and Placerville, in El Dorado County California property. Property Valuation - How much is your El Dorado Hills, Shingle Springs and Placerville home worth? What Did That Home Sell For? - What did that El Dorado Hills, Shingle Springs and Placerville, California property or other real estate sell for? FSBO - Selling your El Dorado Hills, Shingle Springs and Placerville real estate on your own? Go to Main Sitemap - Main sitemap sections include Find El Dorado Hills, Shingle Springs and Placerville Homes, For Home Buyers, For Home Sellers, El Dorado Hills, Shingle Springs and Placerville Information, Real Estate Resources, and About Pam Murray.
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About Appraisals >Fair Market Value
What is the best price for a piece of real estate? Mortgage lenders, appraisers, and real estate brokers use what is called the "fair market value" (FMV). FMV has been defined as "the price that a buyer is willing to pay and the seller is willing to accept, when both parties are knowledgeable about the property and neither is under any time pressure to buy or sell". Sounds great, but how is this price determined?
The starting point for determining a fair price may be an opinion of the value or "comparative market analysis". Such an analysis uses information on similar properties which are: 1) currently for sale, 2) already sold, or 3) expired properties (those which did not sell). Local, national and international trends and market conditions must also be evaluated.
By comparing similar properties in each of the three categories and the market conditions, appraisers, lenders and agents come very close to the maximum price that buyers would be willing to pay for a house.
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| Q |
Where in the United States will you find the largest concentration of million-dollar homes?
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| A |
There are almost 314,000 million-dollar homes in the United States, and 41% of these are located in California.
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