Thursday, May 27, 2021 / by Steve Ticknor
High buyer demand and a low housing inventory continue to spur on our hot Lake Havasu seller's market. Many sellers often receive multiple offers on their property from several buyers. Every month, we see sale prices climb higher and higher. But that does not mean that you can list your Havasu home for whatever price you want and expect to automatically receive it. How do you determine what to ask for your home? You should take into account the appraised value as well as its fair market value. While you might think they are the same thing, they are actually different.
Appraised Value vs Fair Market Value
The appraised value (AV) is determined by an independent third party (the appraiser). First, the appraiser comes out and takes visual stock of the condition of your Lake Havasu home. They also consider the total square footage of both the home and the lot, its location, the number of bedrooms and bathrooms, features, fixtures, etc. Then, they look at recently sold pr. ...