What is Market Value ?
Market Value is what a willing seller and buyer agree on for a sale on a property. Asking price is what Sellers begin with ( some ask too high it’s what we call dreaming and therefore unrealistic, when a property stays in the market for quite sometime, it develops a stigma and this should be avoided ). Anyway, with today’s escalating prices in Metro Manila, one has to compare and absorb what the realistic price is as there is a good percentage of Sellers and Buyers that aren’t aware of current market values and therefore waste valuable time and effort on selling / buying a property.
I am currently summarizing the commercial property values ( to start of with, residential values to follow ) so all will be aware ! It’s not easy as some areas appreciate faster than the others but nevertheless, this would give everyone an idea of prevailing rates. i should have this blog / article out in a week.
thanks and a pleasant day to all …
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Robert G. Sarmiento Properties
Professional Affiliation :
Real Estate Broker’s Association of the Philippines
President, Greenhills Chapter 2008-2009
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Website : www.robertgsarmiento.org