The Value of Your Home
The value of a home is based on much more than just the house itself. There are many factors that need to be considered to determine that value.
1. Location – Location is often the number one factor that determines the home value.
2. Price – It is crucial to set a realistic price from the beginning. The price will affect how long a home stays on the market. This CMA will help establish an appropriate price point. The asking price may need to be adjusted once the house has been on the market for a time.
3. Competition – Buyers will compare the price of your home to similar properties available in the area as well as those that have recently sold.
4. Condition – First impressions are important. Buying a home is both emotional and subjective, therefore, make sure that your home looks good both inside and out.
5. Current Market – The real estate market is in a constant state of flux. It cannot be manipulated and is difficult to forecast. Conditions such as foreclosures and short sales significantly impact home values. Marketing plans must be flexible.