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Market price is what most sell for, to get top dollar requires a bit more work and sales skill.
Sandy Padula & Norm Pa...
Richie Alan Naggar
Miami Beach, FL
Stevens Point, WI
basic Milton Friedman economics- the value of anything is based on the next available option.
Richie Alan Naggar
Miami Beach, FL
Candice A. Donofrio
Fort Mohave, AZ
I'm with Gabe Sanders on this one, top dollar is an elusive term.
In the purchase of a home no as it could have sold under for a number of reasons.
If it is coming from government yes as they know best!
I would think that market price is in-fact market price. I don't know what is "TOP dollar".
Depends on the market.
Market Value " The highest price a willing buyer would pay, and the lowest a willing seller would accept." That amount could change at any time.
No. I think that market price is the price the market will support for that particular house on average. It can go up or down depending on outside factors, but I wouldn't call it top dollar, just the most likely dollar.
Richie - Sometimes I would say that might be true. Other times TOP dollar may be more than market price, but never less, I think.
What is the definition of Fair?
No; Top $ is when ideal conditions exist. Perfection is never achieved.
Good morning Richie. I would say the is as good an answer as any. Not sure there is any right answer to the top dollar question.
I have not always waited for top dollar when selling a property.
I think it is what the market will bear based on condition and location.
In some cases it may depend on the location. For example, some people may prefer top Euro, top Yen, top Pound etc.
Top dollar is the sales price that raises market value.
They probably said the same thing decades ago. It's a wait and see issue.
A property is worth as much as someone is willing to pay for it.
Yes, and No. Sometimes people are willing to pay more than market price but an appraisal won't let them.
Not necessarily but generally what most buyers would be willing to pay if they were in the market for that product.
Richie Alan Naggar I think, you are correct, market price is the top dollar.
no - it is the market price.
Since whatever the price the home sold for becomes the next available comp for others, yes.
I think TOP dollar is above the fair market price.....
I do not know. What is "fair" Richie Alan Naggar ??
That would not apply to our market.
Richie Alan Naggar Market price is what a ready, willing and able buyer is willing to pay and the seller accepts. I would say the appraisal although very subjective will determine top value at that given time.
In the here and now yes it is.
Are we in multiple offers? :D
"Better not tell you now"
If the property value is equivalent to market price, they did/will receive top dollar.
Where a typical agent would have persisted in their 'reduce the price' marketing plan and sell with no 'list price discount' meaning TOP dollar.
For me, top dollar means measurably ABOVE comps.
It is fair to market 'top dollar? Yes.
Market price is the price determined by the market on that particular day. One common factor that runs with people who are financially secure is that they avoid impulse or emotional purchases. They do market research, they compare. that is why they are financially secure.
I choose not to use the term “top dollar” because it only creates problems. I also think it is trite. I show my clients a grid of what has been happening in the market and we talk about where they want to be in the grid. Faster sale vs. higher net proceeds.
I believe it should be more of an average...top value homes may have a lot more amenities