Salina, Bennington and Lindsborg Kansas real estate listings, home buying, selling and relocation information

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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 the world's largest palace?
A	The Imperial Palace (Gugong) in the center of Beijing, China covers over 178 acres and dates back to the early 1400s.
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Ashton Home Team, REALTOR®, real estate agents and broker for Salina, Bennington and Lindsborg Kansas home listings, property and land for sale - NUMBER1EXPERT(tm)

Ashton Home Team
Millwood Realty
1101 S. Ohio
Salina, KS 67401
Office: 785-826-7986
Cell: 785-826-7986
Fax: 785-825-0637
steveashton@topproducer.com
I am a native of Salina, KS and have been in the Real Estate profession for 18 years. I have my brokers/salesperson license and have consistently been in the top 1% of agents in the areas of listings sold, buyer controlled sales and total units sold for the past 16 years. I hold various designations and degrees: CRS (certified real estate specialist), ABR (accredited buyers representative), GRI (graduate realtor institute) and graduated from Wichita State University with a degree in Business Administration. I am a member of NAR (National Association of Realtors), KAR (Kansas Association of Realtors) and our local Multiple Listing Service. I have served or am currently on the Board of Chamber of Commerce, Big Brothers and Big Sisters, American Cancer Society, American Business Clubs of America and Rotary International. I have been voted winner of the Salina Journal’s Readers Choice Award for Best Realtor five years in a row. I have a team of dedicated individuals who will work hard for you to make your real estate experience an enjoyable one. We look forward to meeting you!

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