Understanding the difference between market value, assessed value and appraised value

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Who doesn’t want a good bang for her buck? Whether you’re out searching for your first home or you’re a seasoned real estate investor, at the end of the day, it always comes down to value. But, what is value? How do we measure it?

In real estate, a variety of metrics are used for different purposes to assign monetary worth to a piece of property. The most common metrics that you will come across are assessed value, appraised value and market value.

Market value will always be important throughout your ownership as it dictates the price at which you could sell if you ever needed to. Keep in mind that market value is about perception and many intangible factors influence buyer’s perceptions.

As a buyer, this can be confusing. How does this impact the list price and what the property is worth? Say a home is…