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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Monetary Value


Synonyms:current price, economic value, market value
Filed Under: financial-banking, insurance, real-estate
Tags: banking, insurance, realty
 

Definition of monetary value

monetary value
1. A property's monetary value is its worth if sold at this moment in time.
2. An economic value placed on goods or services in relation to current market conditions. For example, your home's monetary value may increase substantially in times where there are very few homes for sale in your area, but may decrease the same if there's an abundance of homes available on the market, therefore your home may have a different monetary value at any given time.

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.
  • appraised value   An educated opinion of how much a property is worth.
  • asset   Anything of monetary value that is owned by a person. Assets include real property, personal property, and enforceable claims against others including bank accounts, stocks, mutual funds, and so on.
  • book value   The value of a property, item or company as a capital asset based on its cost plus any additions, subtracting depreciation.
  • 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.
  • home equity (HE)   The part of a home's value that the mortgage borrower owns outright; the difference between the fair market value of the home and the principal balances of all mortgage loans.
  • lending value   The property value for mortgage purposes. Usually the lesser of appraised value or sale price.
  • 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.
  • property value   The worth of a piece of real estate, based on the price a buyer and seller would negotiate.
  • sale price   The price that is paid for an asset.

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