- The price or dollar amount that a property owner is able to negotiate when selling an existing home or property.
actual cost, market price, current value
Related Terms and Acronyms
- Betterment — Definition,
- An improvement or replacement that increases a property's value.
- Blue Book — Definition,
- Formally, it refers to the Kelley Blue Book, an industry guide dealers use to estimate wholesale and retail vehicle pricing.
- Book Value — Definition,
- A valuation method determined by taking the original cost of an asset and subtracting any depreciation, impairment or amortization costs.
- The value of a property, item or company as a capital asset based on its cost plus any additions, subtracting depreciation.
- Curb Appeal — Definition,
- The look of a house when viewed from the street.
- Current Market Value (CMV) — Acronym,
- The estimated price determined by the recent sale of similar properties.
- Effective Age — Definition,
- An appraiser's estimate of the physical condition of a building. The actual age of a building may be shorter or longer than its effective age.
- Mint Condition — Definition,
- A term describing a building or item that's just like new.
- Seller's Market — Definition,
- Due to either low supply or high demand, the seller can expect to sell quickly with a high sale price.