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Century 21 Moretti also offers assistance regarding the Housing Recovery Plan (HARP). For more informtion please click on the following link to view the PDF. HARP INFO
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Buying and selling a home is one of the biggest events in your life. As top South Plainfield, Edison, Piscataway, Somerset and Raritan real estate agents, we have the experience and track record you are looking for. Please let us help.
- The Moretti Team
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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.
The Moretti Team Moretti Realty 225 Maple Ave South Plainfield, NJ 07080 908-755-5300 Fax: 908-755-9867 guymoretti@NUMBER1EXPERT.com
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