How is the market
value of my property determined?
The market sets the price.
Your local Royal LePage Realtor will help you set a
realistic price to match market conditions.
Your Realtor can give you a
comparative market analysis based on similar homes in your
area. It will show current listings, recent sales, and
expired listings (a good thing to check because these houses
are usually either overpriced or poorly marketed).
Your Realtor will help you develop a
competitive price based on:
- Location
- Size
- Style
- Condition
- Community amenities
- Financing options
- Market conditions (Is it a
buyer's or a seller's market?)
Remember: The market determines price.
Avoid the urge to price your home based on considerations
that do not affect its market value. For example, the
following do not affect the market value for your property:
- How much you need to purchase
your next home
- How much you paid
- How much you spent on
improvements
- The value of a similar home in a
different community
- The cost to build the same home
today
- Your personal attachment to your
home (Yes, it's your house and you're proud of it, but
this makes no difference to potential buyers.)
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