In a big town and an active market
we should have brought a good price; but this place was utterly stagnant and so we sold at a figure which makes me ashamed, every time I think of it.
The standard provides a fair value hierarchy that gives highest priority to quoted prices in active markets
(defined as Level 1) and lowest priority to unobservable inputs (Level 3).
In a first for the real estate industry, national residential real estate brokerage ZipRealty (NASDAQ:ZIPR), will enable home buyers and sellers to weigh in with their own reviews and ratings on most of the 900,000 homes listed on the Multiple Listing Service in ZipRealty's 19 active markets
, including San Francisco, Los Angeles, Washington, D.
San Diego, Orange and Los Angeles counties were the most active markets
for new homes, DataQuick said.
These estimates are not based on quoted prices in active markets
for either identical or similar assets or liabilities, but rather on mark-to-model estimates.
When active markets
do not exist, developing discounted cash flow estimates that reflect marketbased discount rates commensurate with the risk of the cash flows projected.