Maine Real Estate News - Maine and Cumberland County Homes for Sale
Quality information and local news from an experienced Maine real estate professional. Local real estate news, information and listings for Maine authored by new local author and edited by RISMedia.What Is Fair Market Value In Todays Maine Real Estate Market?
The answer, the same as it is in any market.
Buying or selling a home is likely the largest transaction a person will make in a lifetime. Therefore, it’s understandable that people want to feel they have bought or sold a home at a “fair” price and dread feeling like they left significant money on the table or spent too much.
But how do we determine what is “fair?” Simply put, the fair market value of a house is the highest price an informed buyer will pay, assuming there is no unusual pressure to complete the purchase. Too often, this is different than the asking price. Determining fair market value will give potential buyers and or sellers a realistic outlook on the current Maine real estate market.
If you are interested in determining the fair market value of your home, feel free to contact me and I will be glad to prepare a Competitive Market Analysis (CMA) of your house. To see what homes in your area are selling for, visit www.MLSsearchPlus.com for that and other market statistics for your neighborhood.
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