Gaithersburg, Germantown, Kentlands and Darnestown Maryland real estate listings, home buying, selling and relocation information

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About Me: Gaithersburg, Germantown, Kentlands and Darnestown Maryland home buying, real estate listings, and homes for sale in District of Columbia County, MD

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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	What is a VA home loan?
A	The Office of Veterans Affairs guarantees small or no-down payment mortgage loans made by lenders to U.S. veterans.
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Diane and Dave Faulkner, REALTORŽ, real estate agents and broker for Gaithersburg, Germantown, Kentlands and Darnestown Maryland home listings, property and land for sale - NUMBER1EXPERT(tm)

Diane and Dave Faulkner
Weichert Realtors
704 Quince Orchard Road, Suite 101
North Potomac, MD. 20878
Diane's Cell: 301 318 0334
Dave's Cell: 301412 0681
Fax: 301 977 4740
Email: dianeanddave@NUMBER1EXPERT.com
Diane and Dave, both lifetime residents of Montgomery County, have combined their experience to provide real estate services in Maryland and Northern Virginia. They are backed by a highly qualified team of Weichert professionals to assist you with all your real estate needs including first time buyers, move up buyers, new construction, and land purchases. Specializing in Gaithersburg, Kentlands, Lakelands, Darnestown, North Potomac, Germantown, Rockville and Upper Montgomery County.

www.DianeandDaveFaulkner.com is brought to you by Diane and Dave Faulkner
NUMBER1EXPERTS™ in real estate for Gaithersburg, Germantown, Kentlands and Darnestown, Maryland, luxury homes, investment properties

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