Palm Springs, Palm Desert, and La Quinta real estate and homes for sale in California - Richard Martin & Associates, REALTORS® Richard Martin & Associates REALTORS(r) for Palm Springs, Palm Desert, and La Quinta, California real estate - NUMBER1EXPERTS™ Richard Martin & Associates NUMBER1EXPERTS(tm) for Palm Springs, Palm Desert, and La Quinta, California real estate

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Richard Martin & Associates, REALTORŪ, real estate agents and broker for Palm Springs, Palm Desert, and La Quinta California home listings, property and land for sale - NUMBER1EXPERT(tm)
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Real Estate Tips
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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Real Estate Trivia
Q 
Upon completion this year, what will be the tallest residential building south of New York and east of Chicago?

A 
Located in Biscayne Bay, Florida, the $120 million, 51-floor luxury condominium will be called The Santa Maria.
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Richard Martin & Associates, REALTORŪ, real estate agents and broker for Palm Springs, Palm Desert, and La Quinta California home listings, property and land for sale - NUMBER1EXPERT(tm)

Richard Martin ABR, CRS,GRI, Broker
Richard Martin Realty

1920 E Rochelle Rd.
Palm Springs, CA. 92262
Tel: 760-416-7777
Tel: 760-578-8472
Fax: 760-269-3413
Email: rickymartinrealtor@gmail.com

Always Friendly Professional Service.....I am dedicated to Client Representation. This means that your needs are a PRIORITY! Whether searching for that IDEAL PROPERTY or negotiating the BEST CONTRACT TERMS, YOUR DESIRES are my PRIORTY. I am a member of the prestigious Certified Residential Specialists Council, Movoto Certified Real Estate Agent, a Graduate of The Realtor Institute, Notary Public, Accredited Buyers Representative and have a California Real Estate Broker's License. I serve as a Director of the Palm Springs Regional Association of Realtors. I am always anxious to answer any questions!

ABR CRS Equal Housing GRI MLS REALTOR





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