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Value-in-use is the value to one particular user, and may be above or below the market value of a property. Investment value – the value to one particular investor, and may or may not be higher than the market value of a property.
Market value is the most commonly used type of value in real estate appraisal in the United States because it is required for all federally regulated mortgage transactions, and because it has been accepted by US courts as valid. However, real estate appraisers use many other definitions of value in other situations. [5]
The American housing market has been at a low ebb in ... First GOBankingRates found cities where the average home value for single-family homes (November 2023 to November 2024) was under $300,000 ...
Even in the midst of a sales slump, a dearth of homes on the market and rising mortgage rates gave sellers an edge over buyers, helping drive up the national median home price for all of last year ...
Comparables (or comps) is a real estate appraisal term referring to properties with characteristics that are similar to a subject property whose value is being sought. This can be accomplished either by a real estate agent who attempts to establish the value of a potential client's home or property through market analysis or, by a licensed or certified appraiser or surveyor using more defined ...
With 2024 existing home sales dropping to 4.06 million, the median sales price reached a record high of $407,500, according to the NAR. Mortgage rates are a key piece of the puzzle.
A broker's price opinion (BPO) is a report that is performed by a licensed real estate agent, broker. or appraiser.A BPO is an informal appraisal. It is similar to doing a CMA (Comparative Market Analysis) but most times the real estate professional gets paid to do a BPO.
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