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Harvey’s extensive knowledge of Boca Isles!! Harvey was able to price my home correctly and sell it at a price that other realtors said I would never get in this market! "Christa Cooper" Read Quote > View All Quotes >
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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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| Q |
Who is "Freddie Mac", and why is he a big name in real estate?
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| A |
"Freddie Mac" is the nickname for FHLMC, the Federal Home Loan Mortgage Corporation, which buys mortgages from lending agencies, thus allowing lenders to continually replenish funds for new mortgage loans. |
See More Real Estate Trivia > |
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Harvey Dubov, P.A. RE/MAX Services 6070 North Federal Highway Boca Raton, FL 33487 561-542-7355 Fax: 561-912-3501 harveydubov@NUMBER1EXPERT.com
Servicing all of Broward and Palm Beach Counties. We Specialize in Waterfront Properties, Oceanfront Properties, Country Club Communities, Luxury Condominium, Townhmes, Single Family Homes, Investments, and Gated Communities in Boca Raton, Delray Beach, Highland Beach, Ocean Ridge, Gulf Stream, Manalapan, Hillsboro Mile and Surrounding Areas. Whether you are in the Market to Buy or Sell, Call Harvey. He has successfully fulfilled the dreams of thousands of families throughout South Florida. See why so many homeowners have chosen Harvey Dubov to represent them for all their real estate needs.
Currently Awarded RE/MAX PLATINUM CLUB for 2010!! (Top 1% Nationally Elite of the Elite)Awarded Hall of Fame RE/MAX Award 2007!! (Top 1% Nationally ("Elite of the Elite")
Past Awards include: RE/MAX EXECUTIVE CLUB, 100% CLUB, CHAIRMAN'S CLUB and PLATINUM CLUB 
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