Market value is the true underlying value of a home and is necessary for all federally regulated mortgage transactions and the International Association of Assessing Officers has accepted it for use in property taxation.
A number of factors may affect a residential property’s market value, including:
Curb appeal, home condition, lot size, sidewalk, architectural style.
Size and number of rooms, construction quality, appliance condition, heating type, energy efficiency.
Desirability for a particular school district and neighborhood.