Meet Ellen, One of Richmond's Top Agents
 Ellen has twenty years experience in real estate industry - former President of a title company prior to becoming a REALTOR. "The diversity of my background has broadened my abilities to address concerns that arise during the process of selling or buying a home. Foreseeing opportunities and meeting ongoing challenges strengthen my professional effectiveness."
Ellen Ellen is an Associate Broker with over 20 years of experience in the real estate industry. She has consistently been a Listing and Sales Leader since 1996. She is Relocation Certified and focuses her business on working with both sellers and buyers. Ellen is a Virginia native who has lived in Chesterfield County for the past 43 years. Ellen's 2 oldest daughters work for the team as Buyer and Listing Agents. DESIGNATIONS Associate Broker
Accredited Staging Professional
Accredited Buyer Representative
Certified Residential Specialists
Certified Luxury Home Marketing Specialists
Graduate of Real Estate Institute
e-PRO
Accredited Short Sale Professional
Please Sign Up For The
Latest Listings and the Latest Real Estate News
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.
|
| Q |
Where is the world's oldest castle located?
|
| A |
The castle at Gomdan, Yemon, dating from before A.D. 100, is considered the oldest castle; it originally had 20 stories. |
 See More Real Estate Trivia > |
|
|
|
- NUMBER1EXPERT™ 
