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<Back to Page			Property 54 of 149 Selections

Sale Pending - 29 Wright Dr

$16,500

Front View

Address: 29 Wright Dr	City/ST: Baton Rouge, LA	Zip Code: 70812
Location: BATON ROUGE	Property Type: Land	New or Resale: New
Square Footage: 0	MLS# B0909002

Nice residential lot in established neighborhood. Lot measures approx 91X125 .

Last Updated: 7/23/2009 5:40:31 PM

Listing Agent and Office: Letonia Louis, Exit Realty Keystone

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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	Where in the United States will you find the largest concentration of million-dollar homes?
A	There are almost 314,000 million-dollar homes in the United States, and 41% of these are located in California.
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Exit Realty Keystone, REALTOR�, real estate agent and broker for Baton Rouge, Prairieville/Gonzales and Denham Springs/Walker, Louisiana home listings, property and land for sale - NUMBER1EXPERT

Exit Realty Keystone
Exit Realty Keystone
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Baton Rouge, LA 70816
225-293-0001
Fax: 225-293-0002
sharlasossamon@NUMBER1EXPERT.com

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