Date registered: Apr 2004
Location: The BlueGrass State
Mentioned: 0 Post(s)
Quoted: 2 Post(s)
Say you have an opportunity to buy a $500,000 house in a neighborhood that is chocked full of $500,000 houses. But, through luck you only have to pay $300,000 for that house.
Now, according to you the MARKET VALUE on that house is now $300,000.
Six month later you have to move cross country and need to sell that house. There has been NO appreciation of Real Estate in your city and all the houses in the hood are still around $500,000.
So how much are you going to put that house on the market for? MARKET VALUE?
Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.