Real Estate Term of the Day: Mass Appraising

Real Estate Term of the Day: Mass Appraising MASS APPRAISING – typically used by tax assessors, an effort to determine salient characteristics of properties in a given submarket, to allow an approximation of value for each. Sophisticated statistical techniques are used frequently in mass appraising (Barron’s Dictionary of Real Estate Terms)  Below is a great explanation … More Real Estate Term of the Day: Mass Appraising

Real Estate Term of the Day: Market Price & Market Value

Real Estate Term of the Day: Market Price & Market Value MARKET PRICE – the actual price paid in a market transaction (Barron’s Dictionary of Real Estate Terms)  MARKET VALUE – the theoretical highest price a buyer, willing but not compelled to buy, would pay, and the lowest price a seller, willing but not compelled to … More Real Estate Term of the Day: Market Price & Market Value

Real Estate Term of the Day: Marketing Plan

Real Estate Term of the Day: Marketing Plan MARKETING PLAN – formal strategy for selling property (Barron’s Dictionary of Real Estate Terms)  Every marketing plan for selling real estate should include the following Maximizing your home’s exposure on the internet. Let’s face it 92% of the home buyers are searching for homes online. A great marketing plan … More Real Estate Term of the Day: Marketing Plan