What affects the market value of my property?
The list below identifies the factors that affect the market value of your property. These factors are beyond your control but play an important role in determining market value.
PHYSICAL QUALITIES OF YOUR PROPERTY
- Size of house and lot
- Floor plan and architectural style
- Interest rates and availability of financing
- Buyer demand
- Prices of recently sold properties
- State of the economy
- Seasonal demand
- The number of similar properties for sale
- Their prices, location and physical condition
It's common for Sellers to think about the price they paid for the property, the total proceeds they'd like from the sale and gather opinions from family and friends who are not familiar with the real estate market. This can lead the Seller on the wrong path towards the successful sale of their home.
Sellers must understand that they control the price and condition of the home. When provided a market analysis, a Seller has the right tool to select a reasonable price to sell their home for. Additionally, the Seller can help to sell their home by keeping it well maintained and clean for all showings during the marketing period. Buyers will create their first impression by looking at pictures and walking through the front door for the first time, the outside appearance also makes a first impression. Discuss various staging techniques with your real estate agent as to how to best show off your home - often times it's just a matter of clearing clutter and cleaning.