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.