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Feature Property - COMMERCIAL

$500,000

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Address: 0000 N Loop 121	City/ST: Belton, TX	Zip Code: 76513
Location: 0000 N Loop 121	Property Type: Land	New or Resale: Resale
Square Footage: 0	MLS# 72939

2+ acres - Prime Location - Across from Bell County Expo Center and Belton Veterinary Clinic. Possibilities abound! Elec, phone, water meter, and cable available. $500,000

Last Updated: 12/18/2006 11:54:10 AM

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About Appraisals >Fair Market Value

What is the best price for a piece of real estate? Mortgage lenders, appraisers, and real estate brokers use what is called the "fair market value" (FMV). FMV has been defined as "the price that a buyer is willing to pay and the seller is willing to accept, when both parties are knowledgeable about the property and neither is under any time pressure to buy or sell". Sounds great, but how is this price determined?

The starting point for determining a fair price may be an opinion of the value or "comparative market analysis". Such an analysis uses information on similar properties which are: 1) currently for sale, 2) already sold, or 3) expired properties (those which did not sell). Local, national and international trends and market conditions must also be evaluated.

By comparing similar properties in each of the three categories and the market conditions, appraisers, lenders and agents come very close to the maximum price that buyers would be willing to pay for a house.

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Q	What U.S. state is home to the world's richest woman?
A	Alice Walton, daughter of WalMart's founder and heiress to $16.5 billion, lives on a ranch in the state of Texas.
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Covington Real Estate Team, REALTOR�, real estate agents and broker for Belton, Temple and Salado, Texas home listings, property and land for sale - NUMBER1EXPERT

Covington Real Estate Team
Covington Real Estate
2324 N. Main St.
Belton, TX. 76513
254 939-3800
877 711-3800
Fax: 254 939-3232
Email: covington@number1expert.com
Terri Covington, owner, established Covington Real Estate in 2003 after being a top producer for a franchise office for several years. Realtors affiliated with Covington are involved in the local community, including chambers of commerce, school district committees, local government, churches, and universities. Being an independent office has afforded Covington clients flexibility in marketing and buying strategies.

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