Market Value

Market Value

Market value is the amount of money that probably would be arrived at through fair negotiations between a willing buyer and a willing
seller. Consideration is also given to the uses the property may be put. The following characteristics of market value should be noted:

is the most probable price, not the highest, lowest or average price
is expressed in terms of money
implies a reasonable time to be exposed to the market
implies that both the buyer and seller are informed of the uses to which the property may be put
assumes an arm's-length transaction in the open market
assumes a willing buyer and a willing seller with no advantage being taken by either buyer or seller
recognizes both the present use and the potential use of the property

How is Market Value Determined?

When establishing the market value for a particular property, Advantage Real Estate considers the same characteristics as a purchaser.
They include the size, layout, shape, age, finish, quality, number of carports, garages, sundecks and condition of buildings. Available
services, location, views and neighborhood may also influence a property's market value.

Advantage Real Estate is aware of all real estate sales within your area, and will analyze them to develop common units of comparison and
corresponding values. When using this appraisal technique, Advantage is careful to consider each property's unique characteristics.
We will review the differences as well as the similarities to arrive at a fair assessed value for a particular property.

Understanding Market Value.....

Ultimately, the value of your home will be determined be the market. Basically, the market value is the amount buyers are willing to pay
at the point in time that you want to sell. A Comparable Market Analysis (CMA) is the best way to judge market value. Avoid the urge
to price your home based on considerations that do not affect its market value, such as:

How much money you need to purchase your next home
How much you paid for your home
How much you paid for improvements to your home
The value of a similiar home in a different community
Area appreciation statistics
The cost to build the same home today
Personal attachment

REMEMBER......THE MARKET DETERMINES PRICE!

CMA Explained......

What is a Comparable Market Analysis?

A CMA is the best way to determine a reasonable asking price for your home. Our analysis looks at properties that are similiar or
comparable to your home. It takes into account all of the variables that may affect the value and marketability of your home.

How are comparable homes selected?

Properties located in close proximity to your home that have similiar characteristics are researched. Since our goal is to obtain a balanced
view of the market, we look at similiar homes that fall into four basic groups.

Currently listed homes identify the competition
Recently sold homes indicate what buyers are willing to pay
Homes with sales pending point to the current demand for this type of home
"Expired" homes failed to sell, suggesting what buyers will not pay at this time

A home's market value is the perception of the buyer!

Sometimes, most often in a situation with multiple buyers, offers will be made that exceed the listing price. Buyers fall in love with a house
so much that they are willing to risk that it might not appraise at the purchase price. This is where you need Advantage Real Estate Auction
Sales, LLC. We can generate the kind of excitement your property needs and deserves with targeted advertising and walking the
buyers through the process of buying at auction...Call us today for your free CMA and consultation.

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