Episode 077 - Market Value vs. Market Price Real Estate 101 exam question: Define Market value and market price, and explain the difference between the two. Just kidding! This isn't a test. In this episode B talks about what they are and how they are very relevant in today's market. Knowing the differences can really help you on your next CMA and appraisal challenge. SHOW NOTES 02:00 – Market value vs. Market price. 03:10 – Refresher on the terms. 05:00 – Market price is a factual number. 06:10 – Intrinsic value: what is the property worth to this specific buyer/seller. 06:35 – Balanced market the market value and market price are usually the same. 07:45 – Market price has increased higher than market value. 08:15 – Buyers are motivated. 09:15 – Why does this matter? 10:45 – Buyer's motivation drives market price, but does the buyer's motivation drive market value? 12:10 – Lender is concerned with market value. 13:00 – Market price can be supported with multiple offer information. BETWEEN THE LINES LINKS Email brian@brianclee.com Web brianclee.com Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/? YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?