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When listing or buying a property on an island the size of Bainbridge there are many nuances which may affect pricing. Kim makes it a point to discuss this in detail with her Buyers and Sellers, and will typically produce a CMA (property evaluation) for clients to help them understand the pricing. Contact Kim and let her find your best selling/buying price.

What Influences the Property’s Price

In real estate, property values are not the same as property prices. Property value is an estimate of what a home or a piece of land is actually worth; the price may be higher or lower, depending on:

  1. Who has the best bargaining skills
  2. Who has the most information
  3. Who wants the property most, and
  4. Whether there were any incentives
2 Ways to Determine the Property Value

Identification: The property value is often referred to as the fair market value. Fair market value is the estimated price a buyer and seller could agree on if both were interested in working on a transaction together. The definition assumes that both parties have sufficient information about the market and the property, and that the property has been on the market for a reasonable period of time.

History: The most common method for determining property value* is by the sales history of comparable properties, for example homes of a similar size and similar amenities, in comparable neighborhoods. Appraisers and assessors will use 6 months or a year of sales as the basis for the value of similar properties.

*All Area Appraisal Affiliates Network