wheaton realtor, glen ellyn realtor, wheaton homes, homes, wheaton, warrenville, warrenville realtor, homes for sale, warrenville homes, carol stream, carol stream realtor, carol stream homes, homes for sale in wheaton, realtors, real estate brokers in wheaton, real estate brokers, winfield, winfield homes for sale, first time home buyer, first homeUnderstanding Market Value
  • To Log in or Sign Up for My Property Finder Click Here

Josie Morrison ABR, CRS, SRES

Broker Associate

Understanding Market Value



 

How to Understand the Different Values on Your Home

 

1.       Assessed value also know as tax value

 

2.       Cost or purchase price ? what you paid

 

3.       Insurance value is what your insurance representative says it should be insured for

 

4.       Buyers valuation ? what a buyer is willing to pay

 

5.       Salvage value is what a property is worth sold in pieces

 

6.       Use value ? sometimes a property only has a high value for one type of use

 

7.       Pricing value ? what a seller may want

 

8.       Replacement value ? what it may cost to replace the property with a comparable one, if available

 

9.       Reproduction value ? what it would cost to duplicate from scratch

 

10.     Sentimental value comes from the heart rather than the mind

 

11.     Market value is the value I formulate.  It occurs when a ready, willing, and able buyer purchases a home from a motivated but realistic seller.  It is what I specialize in making happen.