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The Glassman Group, REALTORŪ, real estate agents and broker for Fairfax, Reston and Arlington Virginia home listings, property and land for sale - NUMBER1EXPERT(tm)
RE/MAX Premier real estate and homes for sale in Fairfax, Reston and Arlington Virginia

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Real Estate Tips
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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The Glassman Group, REALTORŪ, real estate agents and broker for Fairfax, Reston and Arlington Virginia home listings, property and land for sale - NUMBER1EXPERT(tm)

The Glassman Group
RE/MAX PREMIER

13135 Lee Jackson Highway
Fairfax, VA 22033
24-hour business line: 703-464-0979
Fax: 703-464-7093
Email: info@mickeyglassman.com

Mickey Glassman has been selling Real Estate since 1987 which represents over 850 transactions. Mickey has a proven record, not only in the number of transactions she has closed, but also in her professional attitude. Just call or e-mail her

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