What is Market Value?

One of the biggest challenges sellers face is pricing their home to sell. The first step is to establish market value. Market Value is what a buyer is willing to pay for the property today. The things to consider when establishing market value are:

Today's Market
Competition (other available homes in your neighborhood & Price range)
Today's financing
Today's economic conditions
The location of the property
Buyer's perception of property condition
The builder of the home
Schools
Normal marketing time

As a seller you can control the list price, condition and access of the property. You can not control market conditions, the motivation of your competition or value.

Agent elimination: if agents are not previewing or if they preview, but do not show the property they are eliminating it.

Buyer elimination: if your home is being shown with no results, buyers are finding better properties in your price range.

These are indications that your property is not priced at current market value.

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