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The fair market value is the price at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts. United States v. Cartwright, 411 U. S. 546, 93 S. Ct. 1713, 1716-17, 36 L. Ed. 2d 528, 73-1 U.S. Tax Cas.
The sales comparison approach (SCA) is a real estate appraisal valuation method that relies on the assumption that a matrix of attributes or significant features of a property drive its value. For examples, in the case of a single family residence, such attributes might be floor area, views, location, number of bathrooms, lot size, age of the ...
Investigate the market data to determine whether they are factually correct and accurate; Determine relevant units of comparison (e.g., sales price per square foot), and develop a comparative analysis for each; Compare the subject and comparable sales according to the elements of comparison and adjust as appropriate
Average home sale price as of 4/30/2024: $1,132,315. Price increase over one year: 10.8% ... This study examined home sale data for 100 of the largest metro areas in the U.S. to determine the most ...
US existing home sales rise in December; house prices hit record high in 2024. WASHINGTON (Reuters) -U.S. existing home sales increased to a 10-month high in December, but further gains are likely ...
Market value or OMV (open market valuation) is the price at which an asset would trade in a competitive auction setting.Market value is often used interchangeably with open market value, fair value or fair market value, although these terms have distinct definitions in different standards, and differ in some circumstances.
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