Berkeley, Albany and El Cerrito California 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 country of the world has the highest percentage of private housing?
A	Mongolia, where 100% of all properties are owner-occupied.
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Terrence Jue, REALTOR®, real estate agent and broker for Berkeley, Albany and El Cerrito California home listings, property and land for sale - NUMBER1EXPERT(tm)

Terrence Jue
Prudential California Realty
2095 Rose St.
Berkeley, CA. 94709
Office: 510 868-1471
Cell: 510 295-8836
Fax: 510 540-9957
Email: Terrence@TerrenceJue.com
Meet Terrence Jue, an exceptional East Bay Real Estate Professional, Terrence came to Mason-McDuffie honored as Agent of the Year for 1987 – 1991 in recognition of his outstanding service to clients, and his continued high sales achievement. Since then at Mason-McDuffie/ Prudential California Realty he has received many outstanding honors. Both sellers and buyers love Terrence’s energetic, First-Class service. Clients respect him as “…a conscientious hard worker who really cares.” They call him “extremely honest and ethical.” One of his clients wrote to say, “Terry has destroyed all our misconceptions about Realtors.” His Broker says, “He is a true professional. Terry always come through!” With a 16-year background of architecture and construction, Terrence is expertly qualified to provide clients with valuable insights about properties. To buyers and sellers he offers a free professional consultation on how to improve the value of a home. Terrence’s strategy is to educate his clients so they understand the local real estate market and can recognize a good – or great – deal when they see one. Choose your agent carefully! If you are seeking a real estate agent to represent you, call Terrence now. Meet him and evaluate his knowledge, abilities, personality, and style. You’ll discover for yourself why Terrence is so highly regarded by his many satisfied clients. For Personalized service from a Personal Agent.

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