There are key factors that influence the market value of your property, some we can control, and other we have no control over them.

These factors we have control over them: Condition of the property, Timing and terms of the sale.
These factors we have no control over them: Location, Age, size of house and lot, floor plan, the market conditions (interest rates, buyer demand, and state of the economy), and the competition (similar properties for sale).

Some factors have no effect on the current value of your property: Original price, needed proceeds, and what people say your property is worth.

Your house has many values to your lender and insurance company, the tax assessor, and to you! Market Value is "The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale.

Assessed Value is the term that your local government uses for determining your real estate tax bill.

CONTACT ME for assistance with RICHMOND REAL ESTATE

Mohamed Mekhimar , Realtor®, Accredited Buyers Representative , RE/MAX Commonwealth, mekhimar@remax.net, (804) 243-0605 Cell, (804) 288-5000 Office, (804) 288-8989 Fax, http://www.richmondvahomes4sale.com/, Licensed in the Commonwealth of Virginia

By the way...if you know someone who is interested in buying or selling real estate in the Richmond Virginia area and surrounding counties, please call me with their name and phone number. Thank you!