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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
^
50% - Moderately

Current Market Value


Synonyms:current assessment, today's worth
Acronyms &
abbreviations:
CMV
Filed Under: financial-banking, insurance, mortgages, real-estate
Tags: finance, realty
 

Definition of current market value (CMV)

current market value (CMV)
1. Current or Fair market value is the present day worth of property if sold under current economic conditions. This amount is generally determined by recent sale prices of similar properties within the same area.
2. The dollar amount required to repurchase or rebuild a home or building, minus depreciation from wear and tear or other causes.

Related Terms and Acronyms:

  • appraisal   An estimate of the market value of a piece of real estate made by a competent professional who knows local real estate prices and markets.
  • appreciation   An increase in the value of a property or item.
  • aviation easement   An agreement that grants the right to fly airplanes over property, even if the practice causes damage, inconvenience, or loss of property value. Such an agreement usually restricts the property owner from building or growing anything over a specified height.
  • fair market value (FMV)   The highest price that a buyer would pay for a property and the lowest price a seller is willing to accept.
  • median price   In a given area, the amount paid for a house in which half of the houses in that area sell for less and half sell for more.
  • overall liquidity ratio   A method of determining how easily and quickly a company can sell off assets to pay off its debts.
  • property value   The worth of a piece of real estate, based on the price a buyer and seller would negotiate.
  • seller's market   Due to either low supply or high demand, the seller can expect to sell quickly with a high sale price.
  • upside-down   A position that consumers find themselves in when the outstanding balance of a loan is higher than the current fair market value of the property purchased with the loan. See also "Depreciation."
  • valuation   The estimation of a property's price value through an appraisal.

More Related Terms and Acronyms

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