Location, location and location! Location with in the state, location with in your county and even the location with in your community.
Value is what a buyer is willing to pay for a home; in a sense their opinion of what your home is worth.
Various factors can be used to compare homes in the same neighborhood as one another, these include:
- Size of the home
- Major improvements
o Kitchen and Bath renovations
o HVAC upgrade
o Roof Replacement
o Window Replacement
- Size of the lot that the home is sited on
- Overall Condition of the home
- Number of Bedrooms and Baths as well as fireplaces
- Additions made to the pre-existing home (a great room expansion or adding a garage)
- Availability of off-street parking
o Is there are garage? If so, how many spots? Is the garage attached to the house?
o Is there a driveway?
o Is there a carport?
How is the Value of a listed home determined?
The value is determined by what a buyer is willing to pay for your house compared to others that are on the market. Buyers used comparable sales and a general assessment of the condition typically to guide their decisions.
What items don't impact the Market Value of your home?
- Tax Assessment
- Appraisal Value from recent refinance
- What your house was worth 2 years ago
- What remodeling cost you
- Your existing mortgage balance
- What you would like to sell your house for
- What I say your house is worth and any other real estate agents for that matter....
YES that's right! I just admitted that what we, real estate agents, say your home is worth does not directly affect the VALUE of your home.
That being said, it is essential that when you plan to sell your home that you hire a real estate agent that uses scientific data to help determine the appropriate list price. If you list your home too high it will cost you money in the end because it will stay on the market longer and as you accrue days on market you lose dollars on the eventual sales price.
Call me today at (301)656-7700 for a free market analysis. As an agent who diligently watches the market and monitors the latest buying trends, I can help you make educated decisions about preparing your home for the market, and help you establish a realistic list price that will get it SOLD!
About The Author
Barbara Martino-Sliva, Realtor® at Dale Sorensen Real Estate Inc., VERO BEACH FLORIDA is the author of this blog and several other sites on the Internet. She has also been a guest speaker on an on-line radio program dealing with Florida and Vero Beach Real Estate and a columnist for the digital magazine FLORIDAYLIFESTYLEONLINE. Barbara is your Real Estate Connection in the Vero Beach area, and is always available to help you with your Real Estate needs. If you have decided that quality of life in VERO BEACH is worth seeing, call her anytime at 772-321-4484 or to search for homes visit: www.VeroPremierProperties.com and her Vero Beach Blog: www.VeroBeachRealEstateVoice.com.
Over 90% of all homes are found online. I create a dominating online presence for my clients properties. My Real Estate blog is highly indexed in GOOGLE.
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Information is deemed reliable but not guaranteed.