Morristown, Randolph, Mendham and Morris Township real estate and homes for sale in New Jersey - Judi Paris, REALTOR® Judi Paris REALTOR(r) for Morristown, Randolph, Mendham and Morris Township, New Jersey real estate - NUMBER1EXPERT™ Judi Paris NUMBER1EXPERT(tm) for Morristown, Randolph, Mendham and Morris Township, New Jersey real estate
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Judi Paris, REALTOR®, real estate agent and broker for Morristown, Randolph, Mendham and Morris Township New Jersey home listings, property and land for sale - NUMBER1EXPERT(tm)
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Real Estate Tips
About Appraisals >Fair Market Value

What is the best price for a piece of real estate? Mortgage lenders, appraisers, and real estate brokers use what is called the "fair market value" (FMV). FMV has been defined as "the price that a buyer is willing to pay and the seller is willing to accept, when both parties are knowledgeable about the property and neither is under any time pressure to buy or sell". Sounds great, but how is this price determined?

The starting point for determining a fair price may be an opinion of the value or "comparative market analysis". Such an analysis uses information on similar properties which are: 1) currently for sale, 2) already sold, or 3) expired properties (those which did not sell). Local, national and international trends and market conditions must also be evaluated.

By comparing similar properties in each of the three categories and the market conditions, appraisers, lenders and agents come very close to the maximum price that buyers would be willing to pay for a house.

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Real Estate Trivia
Q 
What architectural detail made its way into the design of many suburban homes built in the 1950s, 60s and 70s?

A 
The picture window was a signature of the suburban American neighborhood.
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Judi Paris, REALTOR®, real estate agent and broker for Morristown, Randolph, Mendham and Morris Township New Jersey home listings, property and land for sale - NUMBER1EXPERT(tm)

Judith Paris, ABR
Weichert Realtors

Broker/ Sales Associate
73 Washington St.
Morristown, NJ. 07960
Direct: 973-902-HOME
Office: 973-455-1900 x 307
Fax: 973-605-5262
Email: Judi@BestHomeResults.com

Results - Morris County Real Estate. Honesty, Reliability and Service. Welcome to Real Estate Service focused on You and your personal goals. I LISTEN and will translate your wishes into reality, whether you are selling or buying a home - your most important investment. Call for a no obligation consultation and find out how I work to secure for you the best possible buyer or home at the best price.

Equal HousingMLSREALTOR


Weichert Realtors real estate and homes for sale in Morristown, Randolph, Mendham and Morris Township New Jersey

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