Click on the link above for the audio file reference to Getting a Santa Clarita Home at a HUGE discount over FMV.
When Real Estate agents and Appraisers speak about FMV - Fair Market Value - they usually are speaking about the same thing. However, besides looking at apples to apples comparisons and the existing comparables - the Appraiser looks much deeper at the property. In fact, there are many times where properties that have recorded as a specific square footage are not the square footage that the assessor has on record.
Are those differences HUGE? - Not usually, but there are other things that the appraiser will notate that a Real Estate agent might not get into with their client.
As Seasoned Realtors, we want to speak about Re-Sale possibilities. We want to look to the future when 4.7 years is here and when today's buyers become tomorrow's sellers. It is good to speak about those issues now, when buying a home with your personal real estate professional.
Food for Thought:
When you get around those with whom you work, family and friends - everyone seems to be an expert when it comes to Real Estate. Everyone has gotten a deal, because of their experience, that you should be getting too. With regard to everything you are going to start hearing about the "how" of their success, do yourself a favor and take everything with a "grain of salt". Also, make sure you give your Real Estate agent a chance to respond to each and every "Expertly played" scenario.
A final word about the "infomercials" that are talking about attending a seminar, sending for a package, or going about Real Estate investing by Faith - BE Weary. Do your investigations and make sure you give your Real Estate agent a chance to answer to all aspects of those infomercials and sponsored ads. You probably already know what will happen when you invest your hard earned money into one of those programs - but you should ask anyway :-)