08/07/2022
What is market value?
Simply put, market value is what a fully informed, willing buyer would pay for a home. It’s an amount informed by prices other buyers have recently paid for nearby, similar homes — called comparable homes, or “comps”.
There are three values for a for-sale home: What the seller thinks it’s worth, what the buyer thinks it’s worth and what an appraiser will think it’s worth.
