What’s My Eden Prairie, Minnesota House Worth?
Thinking About Selling Now or in the Spring?
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Homebuyers and sellers may be on opposite sides of the transaction, but they have one dilemma in common: They both need to sort through a thicket of data and valuation estimates to determine how much the home is really worth.
Ultimately, a home’s value is based on what a buyer is willing to pay and what a seller is willing to accept. When a buyer and seller agree on a price, therefore, that amount reflects the home’s current market value. But there’s no straightforward formula for determining that value.
The bottom line: Prices and valuations will differ, sometimes dramatically. The only way homebuyers and sellers can decide which number best represents the home’s true market value is to dig deeper into the data and try to understand the comps (or recent sales of similar homes) and the different ways to calculate a number.
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