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Welcome > Local Info >
Brookhaven Township Information ...
About the Brookhaven Township, New York Area Request our Free Brookhaven Township, Smithtown Township and The North Shore Relocation Package. It's packed full of useful and important information about the Brookhaven Township, Smithtown Township and The North Shore, New York area. Don't move here without it! Remember: we'll send it to you for free and without obligation. Just fill out the form and we will send it right out... It's our job to know EVERYTHING about Brookhaven Township, Smithtown Township and The North Shore! Ask us any question. Or request a FREE information package. There's no obligation, and we promise to get back to you quickly...
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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 are the world's most valuable chairs?
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| A |
A pair of Chippendale chairs designed by Robert Adam sold in 1997 at Christie's, London to an anonymous buyer for $2,762,330. |
See More Real Estate Trivia > |
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