Property Value

Definition

• The worth or amount of money a real property is sold for depending on the price negotiated by a buyer and seller.

Synonyms
assessed property value, house value, home value

Related Terms and Acronyms

• Act of God (AOG) — Acronym,
  • When used in insurance policies, an event caused by natural forces such as hail, rain, tornado, lightning, floods or earthquakes, which results in damage to property.
• Assessed Value (ast, AV) — Acronym & Abbreviation,
  • A municipal or provincial government's determination of a property's worth for tax purposes.
• Assessments — Definition,
  • Special and local taxes imposed upon property which benefits from an improvement that has been made in the vicinity.
• Book Value — Definition,
  • The value of a property, item or company as a capital asset based on its cost plus any additions, subtracting depreciation.
  • A valuation method determined by taking the original cost of an asset and subtracting any depreciation, impairment or amortization costs.
• Cul-De-Sac (Culd, Cldsc) — Abbreviation,
  • A dead-end street, often with a broad circle at the end.
• 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.
• Fair Market Value (FMV) — Acronym, Very Important,
  • The highest price that a buyer would pay for a property and the lowest price a seller is willing to accept.
• Full Market Value — Definition,
  • In reference to property taxes, usually refers to the tax rate applied to 100 percent of the property's value. Also full cash value.
• Investment Property — Definition,
  • Property bought with the hope of it making money.
• Land Lot — Definition,
  • A piece of land owned by an individual or entity.
• Lending Value — Definition,
  • The property value for mortgage purposes. Usually the lesser of appraised value or sale price.
• Low Ball Offer — Definition,
  • A way-below-market bid a buyer makes on a property or item.
• Market Value (MV) — Acronym, Important,
  • Also known as "Fair Market Value." The estimated value of a property which a seller could expect to receive under normal conditions.
• Monetary Value — Definition,
  • A property's monetary value is its worth if sold at this moment in time.
• Principle of Conformity — Definition,
  • The notion that a house will fetch a fair price if it is situated among houses of similar size, style and condition.
• Principle of Progression — Definition,
  • The notion that a smaller house's value will be enhanced if it is near larger, fancier houses.
• Principle of Regression — Definition,
  • The notion that the value of a larger or fancier house will be reduced if it is near smaller, lower-priced houses.
• Real Estate (RE) — Acronym, Very Important,
  • A section of land including all the natural resources (above and below the surface) and any permanent buildings or structures located on it. Also known as "realty."
• Sale Price — Definition,
  • The price that is paid for an asset.
• Seller's Market — Definition,
  • Due to either low supply or high demand, the seller can expect to sell quickly with a high sale price.