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This is in contrast to willingness to pay (WTP), which is the maximum amount of money a consumer (a buyer) is willing to sacrifice to purchase a good/service or avoid something undesirable. [1] The price of any transaction will thus be any point between a buyer's willingness to pay and a seller's willingness to accept; the net difference is the ...
For example, single apartment buildings of a given quality tend to sell at a particular price per apartment. [13] In many of those cases, the sales comparison approach may be more applicable. On the other hand, a multiple-building apartment complex would usually be valued by the income approach, as that would follow how most buyers would value it.
According to the constructed preference view, consumer willingness to pay is a context-sensitive construct; that is, a consumer's WTP for a product depends on the concrete decision context. For example, consumers tend to be willing to pay more for a soft drink in a luxury hotel resort in comparison to a beach bar or a local retail store.
Case in point: Wolfe recalls clients who became skittish about dropping property values when the markets tanked in 2007 -- and ended up short-selling their homes.
However, Trump has also promised to reduce what he has called unnecessary regulations upon housing development, which could take as much as $90,000 off the price of a new home.
If you need the cash to pay for your next house. ... to take advantage of the price appreciation. Selling vs. renting your home: Costs to consider ... Dairy Queen brings back 2 festive treats for ...
Generally driving segments, there are customers who just go for the lowest price product, or value buyers who are willing to pay more to purchase products that are worth the price. Thus, value–based pricing companies are aiming for types of segmentation like value buyers. In reality, each and every product in the market is sold at different ...
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.