What Is Value?
Value depends on where it is in a real estate transaction.
Assessed Value is based upon historical sales data and doesn’t always represent current market value. Assessments are for towns to try to fairly assess taxes in an equitable manner among property owners. Periodic re-evaluations update assessed valuations. Assessments aren’t always up to date nor a reliable comparison as to what “Fair Market Value” is or should be. Compare it to car excise tax valuations; usually less than “Book Value.” Is that all your car is worth on the market? Could you sell your car for more than "Book Value?"
Appraised Value is also based upon historical data. Appraisers protect the interest of the lender and are more conservative in the value they place on a property.
Market Value is created by the Buyer and Seller. It’s what a Buyer is ready, willing and able to pay and a Seller agrees to accept. A negotiated value, which changes relative to market conditions and supply & demand of homes. A home is worth what a Buyer is willing to pay and a Seller is willing to sell.
Home IS Where your Heart is!
I am ready to help you get your best value buying or selling a home.
Contact me for a Free Market Analysis and information on how I can help you with buying a home.
I am licensed in MA and NH. I am also certified in Loss Mitigation. I can guide you through the process to determine if a Short Sale could be an option for you.