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8 Things That Determine Market Value of Your Home

Real Estate Agent with Sutton Group - West Coast Realty



Here are eight things that will determine market value of a home for sale. True market value of real estate is what a buyer is willing to pay, nothing more, nothing less.
1.The current market condition
We are currently in a buyer's market.
2.The amount of competition
There is immense competition especially for townhouses and condos which are often very similar.
3. Current Financing
This week variable rates are at or above prime raising the cost of buying.
4. Current Economic Conditions
Downmarket, recession, depression, stock market crash, price of oil plummeting...all headlines this week. Not all accurate but perception is a powerful thing.
5. Buyer's Perception of the Properties Condition
Curb appeal and how your home shows can influence the buyer particularly regarding their perceived value of your home. Repair any minor issues at the very least.
6. Location
Location, location, location...need I say more.
7. Amount of Time on the Market
A property that is on the market well past the average time to sell becomes stale.
8. Showing accessibility
You need a Realtor who will accommodate showing requests. If no one can get in, no one will buy.