Market value defined.

[flippinout]

The price at which a property will sell, assuming a knowledegable buyer and seller both operating with reasonable knowledge and without undue pressure.

And it is also the most probable selling price of a property.

[flip_it_fast]

This is the same as the term "Fair Market Value" as in the parties involved (buyer and seller) are not desperate to buy or sell the property. They are not being influenced by outsiders to buy/sell the property.

We have heard so much about how the housing market has been so influenced by creditors who get a blown up evaluation/appraisal of what the property is actually worth in order to make more money. We have also heard a ton about how buyers blow up their actual assets in order to get the loan they are seeking. Market value is a straight up honest appraisal of the property's worth.

Thanks for this post flippinout. I know all the different terms that we all hear about buying and selling property can be confusing.

[JaredfromIndiana]

Originally Posted by flippinout

The price at which a property will sell, assuming a knowledegable buyer and seller both operating with reasonable knowledge and without undue pressure.

And it is also the most probable selling price of a property.

The market value of a house is nothing more than an educated guess. Just because the market says it will sell for X amount doesn't mean that it will. I agree that it is the most probably selling price of a property... my two cents. Keep the change!!