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School Reports in Rehoboth Beach, Lewes and Milton, Delaware

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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	What might happen to the Empire State Building in extreme weather?
A	The Empire State Building can sway several feet to either side when buffeted by a severe windstorm or rainstorm.
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Beth Dorman, REALTOR®, real estate agent and broker for Rehoboth Beach, Lewes and Milton, Delaware home listings, property and land for sale - NUMBER1EXPERT(tm)

Beth Dorman
Coldwell Banker Resort Realty
20184 Coastal Hwy
Rehoboth Beach, DE 19971
Office: 302-227-5000
Cell: 302-381-2777
Toll Free: 800-800-4134
BethDorman@NUMBER1EXPERT.com
beth@bethdorman.com
My focus is on personalized service. I listen very carefully to my clients so that I can assist them with their needs and wants and make every transcation as smooth as possible.

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