TRUE MARKET VALUES
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July 9 , 2010
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V A L U E S
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''A HOUSE HAS MANY VALUES''
MARKET VALUE - ...is the amount that a knowledgeable BUYER , who has done comparison shopping and looked at other similar homes or property , and is willing to pay for your property today .
ASSESSED VALUE - ....is the VALUE your city or town have placed your house and taxed at the TAX RATE set and later State Approved to determine your tax . IF , your City or Town is at 100% Valuation [ not always so ] then Assessed Value would be about the same as Market Value .
Most municipalities , however , do not update their Market Value .
Therefore , and usually , the Assessed Value is LOWER than MARKET VALUE .
REPLACEMENT VALUE - .....in reconstruction costs of the same house or other buildings that you have at today's prices . Replacement Values will OFTEN be GREATER than MARKET VALUE !
DEPRECIATION VALUE - .....is today's reconstruction costs of the property at today's prices MINUS a percentage for Wear and Tear called DEPRECIATION . This is sometimes used for Insurance Purposes on older property and means that insurance settlements would be based on the Depreciated Value rather than the cost to replace or repair the damage .
EMOTIONAL VALUE - ....is the V A L U E that OWNERS subjectively place on their HOMES and OTHER REAL ESTATE as it is solely based on what their Home and or Other Property means to them ! EMOTIONAL VALUES may have NO RELATION what-so-ever to any of the other types of values mentioned herein !
Though your HOME or OTHER PROPERTY has many kind of values , it is MARKET VALUE that must be considered when you are making a decision to Price Your Home or Other Property for Sale .
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Compliments of :
Atty. George A Tetreault , Jr.
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''in real estate since 1949 .....and still learning''
''61 GREAT YEARS''
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Author - Philosopher - Publisher - Investor - Entrepreneur
Master Negiotator
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Licensed Real Estate Broker , since 1960
Licensed Auctioneer , since 1982
Attorney , since 1963
Notary Public , since 1958
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1-800-590-8748
1-508-480-5141
1-413-245-9513 Fax
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Compliments of :
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Lady Selena Beth Squires
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Marketing Representative
HomeMaker
Mother
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Real Estate Salesperson
Notary Public
AUCTIONEER .... in training
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''BEAUTIFUL on the OUTSIDE
... and
BEAUTIFUL on the
INSIDE''
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Self-Marketing Tool
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