6,392,899
An opinion or a fact.
-
Debe Maxwell, CRS
Charlotte, NC
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Michael Jacobs
Pasadena, CA
-
Tony and Suzanne Marri...
Scottsdale, AZ
-
Curtis Evans
Golden Meadow, LA
-
Bob Crane
Stevens Point, WI
5,104,931
I suggest you ask your instructor and read your text book. I know the answer was in my textbooks 25 years ago.
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Bob Betel
Sweetwater, TN
-
Sandy Padula & Norm Pa...
, CA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Bob Crane
Stevens Point, WI
-
Michael Jacobs
Pasadena, CA
5,048,728
Market value is determined by the market...the successful buyer-seller contract, while appraised value comes from an appraiser
-
Kasey & John Boles
Boise, ID
-
Bob Crane
Stevens Point, WI
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Curtis Evans
Golden Meadow, LA
4,319,419
abby tiscareno - Market Value is the agreement with the buyer and seller. Appraised value is what town wants the owner to 'tax' on.
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Bob Crane
Stevens Point, WI
-
Michael Jacobs
Pasadena, CA
-
Praful Thakkar
Andover, MA
5,772,575
Abby,
I think Bob Crane gave you a good answer.
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Michael Jacobs
Pasadena, CA
-
Curtis Evans
Golden Meadow, LA
-
Bob Crane
Stevens Point, WI
2,781,013
One is an opinion and one is a reality
-
Richie Alan Naggar
Riverside, CA
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
2,182,502
What is the difference between Markey value and Market Price ?
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Michael J. Perry
Lancaster, PA
921,504
More context needed.
For example, was the PURPOSE of the ordered appraisal for 'refinance' proposes, HELOC or buyout? One could think they end with the same result, but the reality is, the bank imposes their rules on the appraiser.
Market value, a speculation based on optimism, urgency or profit with a data set that is curated with a outcome in mind OR equal to SOLD PRICE, but that number is hindsight.
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Bob Betel
Sweetwater, TN
4,882,355
Apprsaised value is the value a professional appraiser says the house is worth. Market value is what the buyer is willing to pay and the seller is willing to accept.
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Bob Betel
Sweetwater, TN
3,071,489
Bob Crane nailed this one!
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Bob Crane
Stevens Point, WI
-
Michael Jacobs
Pasadena, CA
1,197,022
A world of beliefs and knowledge.
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Bob Crane
Stevens Point, WI
-
Michael Jacobs
Pasadena, CA
274,059
I agree with Bob Crane !!
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Bob Crane
Stevens Point, WI
-
Michael Jacobs
Pasadena, CA
4,434,127
Others have answered.
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Bob Crane
Stevens Point, WI
-
Michael Jacobs
Pasadena, CA
1,157,785
There are numerous definitions of both terms. What is the context that you are using these terms?
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Bob Crane
Stevens Point, WI
-
Michael Jacobs
Pasadena, CA
4,272,548
Usually profit...
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Bob Crane
Stevens Point, WI
-
Michael Jacobs
Pasadena, CA
599,274
An appraised value is what they give you after looking at your contract to purchase and then bumping the value up a few thousand.
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Bob Crane
Stevens Point, WI
-
Michael Jacobs
Pasadena, CA
2,220,323
And here it is, class of 2017.
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
3,986,258
This is easier for your instructor to show you in class
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
5,005,333
I'm with Bob Crane's answer on this one Abby. Hope it helpds.
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
809,258
Market Value is the value arrived by what price a buyer is willing to pay and a seller is willing to sell. An Appraised Value is arrived by a licensed appraiser doing their job. -Kasey
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
4,800,082
In a perfect world, they would be the same.
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
1,725,896
Please write a blog and tell us
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
3,344,906
I know that regardless of what my real estate school / instructor was advising me to do ... I would not be asking questions in this forum knowing X number of other students are doing the same thing. I wish you all the best. I hope that once you pass the exam and become an agent that you learn how to think for yourself. Independent thinking versus being a Sheeple will take you a very long way in life and in real estate.
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
2,684,009
IDK about Utah.
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
1,525,616
Appraised value: A bank will lend based on this amount.
Market value: The price property will sell for in current market.
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
1,617,916
market value what you sell the property at
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
1,466,207
abby tiscareno Market value is the value determined between a ready, willing and able buyer and seller. Appraised value is is the opinion of an appraiser to support a loan.
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
1,543,225
Comparison Based "Professional" Opinions vs. the Market's emotional opinions & reactions.
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
1,712,676
You have been asking questions for a long time so asking this one either means you didn't study in class or you have nothing better to do with your time. Try asking something useful.
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
3,416,038
A great question these days as market value is what a buyer is willing to pay for it. The appraised value SHOULD be the value based on adjusted sold comps, HOWEVER appraisers are making a royal mess injecting their opinion instead of fact. Using bad comps, being from out of the area and not knowing values that can be specific to an area, complex, neighborhood or town/city
-
Bob Crane
Stevens Point, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
4,571,831
Bob Crane is a busy guy and I'm not sure he is available(or wants to) for private tutoring but you will not go wrong following his advice.
Abby, it does appear that your real estate education is on the slow track compared to other students who have "visited" the Q&A section. Good luck.
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Bob Crane
Stevens Point, WI
5,229,322
3,988,007
An appraisal is generally based on most recent sold values of similar properties. Market value is what a buyer is willing to pay now.
-
Bob Crane
Stevens Point, WI
1,045,440
Both are opinions until a property has actually been sold at which point you have a reasonably good idea of MARKET VALUE
55,673
In then mortgage world we only lend on the Appraised Value. In the lending process, you can agree with the Appraised value or not, but your loan is determined only on appraised value. Market value is an arbitrary number with little or no (excuse the pun) value. Unless you have a "Cash Buyer" and is not concerned with the value of comparable recent sales in his neighborhood. I always say that you can set whatever market value you want, but the Appraiser will confirm or reject that number. Do your home work before you set what your feel the value in your neighborhood.
900,008
1,502,868
App: What the bank is willing to lend
MV: What the buyer is willing to pay.
7,835,282
711,752
Market value is what someone would pay for the home. Appraised value is what you are taxed on.