The hypothetical price that a willing buyer and seller will agree upon when they are acting freely, carefully, and with complete knowledge of the situation.

Market value may be different from the price a property could actually be sold for at a given time.

Market value is different than that of appraised value. Many times, consumers get these two confused. Market value is the value that your house could sell at today. Where as, appraised value is the value of your house through the eyes of an appraiser. The appraiser will use several tools to come to that value.

Fair Market Value is what the average buyer is willing to pay for a home. Appraised values are arrived at by appraisers using a systematic approach taking into account all variables that affect home values.

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