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Utilities |
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Boise (208) 384-3735
Buhl (208) 543-4522
Burley (208) 878-2103
Caldwell (208) 455-3070
Eagle (208) 939-0242
Filter (208 )326-5000
Gooding (208) 934-5669
Hansen (208) 423-5158
Hazelton (208) 829-5415
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Heyburn (208) 679-8158
Jerome (208) 324-1911
Kimberly (208) 423-4151
Meridian (208) 888-5242
Mt. Home (208) 587-2108
Nampa (208) 468-5420
Rupert (208) 436-9600
Shoshone (208) 886-2172
Twin Falls (208) 735-7250
Wendell (208) 536-5161
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Cable Television
Cable One
(208) 375-8288 (Boise Area)
(208) 733-6230 (Twin Falls Area)
(208) 678-0489 (Burley Area)
www.cableone.net
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Phone
Qwest
1-800-244-1111
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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 |
Where was the first hotel built in the US?
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| A |
The Union Hotel (1802) Saratoga Springs, NY, is the first hotel emphasizing lodging and services, in addition to food and drink. |
 See More Real Estate Trivia > |
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