Which of the following factors impacts the concept of "Market Value"?

The concept of "Market Value" is fundamentally influenced by fair market conditions and the knowledge of all parties involved in the transaction. Market Value is typically defined as the price a property would sell for in a competitive and open market where both buyers and sellers have reasonable knowledge of the relevant facts and are acting in their own self-interest. This condition necessitates that neither party is under undue pressure to buy or sell, allowing the price to be determined in a robust marketplace.

Factors such as current economic conditions, supply and demand dynamics, and comparable property sales all contribute to establishing this fair market value. When both buyers and sellers are informed and the market conditions are stable, the properties can be assessed more accurately, leading to a reliable Market Value.

Other factors, while they may affect an individual’s perception or specific circumstances of a sale, do not have the same broad influence on Market Value. For instance, a buyer's emotional attachment to a property may foster a personal determination of value, but it does not reflect the Market Value which is based on broader market conditions. Similarly, the historical significance of a property may add cultural or personal significance but doesn't inherently affect its Market Value in a transactional sense. Lastly, personal valuation techniques employed by real estate agents could lead to varying