How is the market value of my property determined?The market sets the price. Your Realtor will help you set a realistic price to match market conditions.
Your REALTOR® can give you a comparative market analysis based on similar homes in your area. It will show current listings, recent sales, and expired listings (a good thing to check because these houses are usually either overpriced or poorly marketed).
A competitive price can be based on:
Location
Size
Style
Condition
Community amenities
Financing options
Market conditions (Is it a buyer's or a seller's market?)
Remember: The market determines price. Avoid the urge to price your home based on considerations that do not affect its market value. For example, the following do not affect the market value for your property:
How much you need to purchase your next home
How much you paid
How much you spent on improvements
The value of a similar home in a different community
The cost to build the same home today
Your personal attachment to your home (Yes, it's your house and you're proud of it, but this makes no difference to potential buyers.)
No comments:
Post a Comment