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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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Real Estate Trivia
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What celebrity home sold recently for a reported $5.5 million, despite its yellow-and-rust striped paint job?

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This Hollywood Hills residence was the former home of the popular singer, Madonna.
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Lucy & Bill Rudolph, REALTORŪ, real estate agent and broker for Brentwood, Nashville, Williamson County, and Franklin Tennessee home listings, property and land for sale - NUMBER1EXPERT(tm)

Lucy & Bill Rudolph and Lisa Rudolph Turner
Prudential Woodmont Realty

5107 Maryland Way Suite 100
Brentwood, TN. 37027
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Business Office: 615-377-1310
Lucy's Digital: 615-973-3037
Bill's Digital: 615-838-4724
Fax: 615-376-3521
Broker's Office: 615-661-7800
Email: reindeerteam@NUMBER1EXPERT.com

Lucy and Bill Rudolph's team, the "Reindeer Team", are two of America's NUMBER1 Real Estate EXPERTS in Brentwood, Nashville, Franklin and Williamson County. They are well equipped to guide you thorough all your real estate needs. If you are planning to buy, sell, or buy and sell a home, in Middle Tennessee or are thinking about it, give them the opportunity to show you how their services will benefit you. With a combined total of 27 years experience in real estate industry, this team is well seasoned, honed and organized to get your home bought or sold in a very professional manner. Lucy and Bill have lived in Brentwood for 37 years and know the areas they concentrate in very well. They have deep roots there, having reared a family, made lots of friends and know a lot of people. You can count on their being solid, dependable, honest and trustworthy. Call or email them today!!!

CRS Equal Housing GRI MLS REALTOR


  Prudential Woodmont Realty real estate and homes for sale in Brentwood, Nashville, Williamson County, and Franklin Tennessee

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