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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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David Raesz and The Raesz Team
Keller Williams Realty
Austin, TX 78746
Tel: 512-794-6635
Fax: 512-448-4822
Tel: 800-879-1161
Email: raesz@kw.com

David Raesz and the Raesz Team understands that when it comes to your home sale or purchase, a professional team who will cut to the chase, go the distance and get the job done quickly is the key to your success. And as one of the leading professional real estate teams in the Austin area, the Raesz Team are the Realtors® more and more people are turning to for help. Whether you are looking to buy or sell your home, or if you need the helpful guidance of central Texas' premier relocation specialists, you can always count on the Raesz Team to get the job done right. Hablamos Espanol!

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