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All real estate agents are NOT alike! Find out why the 6 experienced members of The PEDERSON TEAM are top real estate experts. Call us: 877-692-5253.
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Buyers Want Your Home for as Little as Possible.
Are you thinking of selling your home? You should know exactly what it's worth before making such an important decision.
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Welcome! Here You Can Find Great Information on Crosslake, Brainerd Lakes Area and Whitefish Chain of Lakes, Minnesota Real Estate  Directions to our building:
RE/MAX Lakes Area Realty is located in the heart of Crosslake at the intersection of County Road #66 and County Road #3, in the log building across County Road 66 from the Corp of Engineers Federal Campground. 35548 Co. Rd. 66, Crosslake. Looking for homes? Search everything the web has to offer, right here! Don't miss our Feature Homes. Selling a home? When you list your property with us... WE LET THE WHOLE WORLD KNOW! Your property will be entered on serveral of our web sites and enhanced and featured on the #1 real estate site, REALTOR.com to reach the most BUYERS for your property! Your property is not only entered into our Greater Lakes MLS, but also entered into the Northstar (Twin Cities) MLS, promoting your property to 16,000 REALTORS in Minnesota and Western Wisconsin! Need local real estate information? We've summarized much of what is important about the Crosslake, Brainerd Lakes Area and Whitefish Chain of Lakes real estate market in this site. Need expert advice? No web site, large or small, can take the place of a top real estate agent. Not even ours! This site is filled with ways that you can contact us for one-on-one expert help and advice. That's our job. Contact us with confidence! We guarantee your privacy will be respected. And we offer the services on this site for free and without obligation. Why? We want to be YOUR real estate agents. As your trusted, professional real estate partners, we will help you find the best home in your area within your price range. And together we will sell your home, for as much as the market will bear, and as quickly as possible. Buying and selling a home is one of the biggest events in your life. As top Crosslake, Brainerd Lakes Area and Whitefish Chain of Lakes real estate agents, we have the experience and track record you are looking for. Please let us help. - The Pederson Team |
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About Appraisals >Fair Market Value
What is the best price for a piece of real estate? Mortgage lenders, appraisers, and real estate brokers use what is called the "fair market value" (FMV). FMV has been defined as "the price that a buyer is willing to pay and the seller is willing to accept, when both parties are knowledgeable about the property and neither is under any time pressure to buy or sell". Sounds great, but how is this price determined?
The starting point for determining a fair price may be an opinion of the value or "comparative market analysis". Such an analysis uses information on similar properties which are: 1) currently for sale, 2) already sold, or 3) expired properties (those which did not sell). Local, national and international trends and market conditions must also be evaluated.
By comparing similar properties in each of the three categories and the market conditions, appraisers, lenders and agents come very close to the maximum price that buyers would be willing to pay for a house.
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What does the term ARM stand for?
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An ARM is an Adjustable Rate Mortgage, a loan where the interest rate is tied to an economic index that fluctuates with the market. |
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