In the real estate industry, the concept of value is vague. The value of a house (or condo, or
co-op, or townhouse) fluctuates often, based on many situations, such as an ever-changing
market conditions, the condition of the home, and the costs associated with owning it.

For that reason, it's difficult to answer the question, "How much is it worth?" There is one
certainty, however. The answer to true value does not lie in how much the seller wants for his
or her home (though that is what the seller and the listing broker want you to believe). In fact,
the listing price of a home sometimes has nothing to do with its market value.

Figuring out how much a home is actually worth is a tricky process. You'll have to do your
homework, pull out your calculator, and spend some time learning to recognize certain
"value markers." Once you've figured out what a property is worth relative to others that are
similar in the area, you can begin to compare various homes. Where a home is located
(within a city, within a neighborhood, on a particular street, within a single building) is
crucial to determining its value.

When you begin to compare homes, it's important to factor location into your house valuation
formula. First, think about where the house is located in relation to the entire neighborhood.
Are shops and various services within walking distance? Is the house close to major forms of
transportation and to the schools your children will be attending? Is it too close to any of
these amenities?

Many families want to be within a few blocks of the local public school, but they prefer not
to have their backyards adjacent to the school playground.
Next, think about where the house is located on its block. Is it on a corner, or on the interior
row? Is it next to a high-rise building or a three- or six-flat building? Are there many homes
just like it on the block? Does the block have a nice residential feel or is it mixed
residential/commercial? If you're considering a townhouse, start by asking yourself about the
townhouse's location in relation to shopping and service retailers, such as a dry cleaner. If the
townhouse is located within a subdivision, compare its location with the premium location
within that subdivision.

For example, is it better to be located on the perimeter, or is an interior location better? Are
end units more prized, or are middle units preferred? Are you close to the entrance of the
subdivision, or do you have to drive several blocks to get there? Do you have to walk far to
the garbage drop-off or mail pick-up spot?

The location questions for a townhouse apply for condominiums and coops as well. If your
condo or co-op is located in a high-rise building you also need to consider where the unit is

located in the building. If one side of the building has a fabulous view and another faces a
windowless brick wall, you can bet that units with the full view will be more prized than
units with a peek-around or no view.

Which is more important to you, the lower cost or the better view? If there are two views --
say, a water view vs. an urban view, an east view (sunrise) vs. a west view (sunset), or a 
high-floor vs. a low-floor perspective --remember that a unit with the best view in a building
will generally appreciate faster than a unit with only a so-so view, even if the so-so has more
amenities.

For More important pertinent information when selling your Baltimore County home, call the Realtor Team that will get you the best Price when selling your home; Mark and Gloria Price, The Price Team. 443-676-0223

or visit us at: www.priceharfordhomes.com