Do You Know What Your Home Is Worth?
Each home is unique and presents different layers of opportunity. It’s imperative to have in-depth knowledge of market conditions and current influences on the market in addition to buyer conditions and current influences on buyers.
Factors in Determining Home Value:
“MARKET VALUE”- The highest price at which a property will sell on the open market, given a reasonable amount of time to find a qualified buyer.
“FAIR MARKET VALUE” – Economic principles of a free and open market. What a buyer is willing to pay for the property based on what has influenced them.
MARKET INFLUENCES INCLUDE: Interest Rates, Economic Conditions, Seasonal Demand, Buyer Demand, Recent Sales of Competing Properties, Availability of Competing Properties
BUYER INFLUENCES INCLUDE: Location, Condition, Amenities and Condition, Home Size and Floor Plan, Architecture, Age and Quality of Construction, Lot Size
Request a detailed, no-obligation Home Value Estimation from Phillip Booghier below:
While there are many factors that influence the value of a home. The surrounding area is one of the most influential.