Understanding Market Value

THE MARKET VALUE OF YOUR HOME IS:

• What a buyer is willing to pay for the property today
• Based on today’s market
• Based on today’s competition
• Based on today’s financing
• Based on today’s economic conditions
• Based on the buyer’s perception of property condition
• Based on location
• Based on normal marketing time

THE MARKET VALUE OF YOUR HOME IS NOT:

• What you have in it
• What you need out of it
• What it is appraised for
• What you heard your neighbor’s house sold for
• What the tax office says it is worth
• What it is insured for
• Based on memories and treasures
• Based on prices of homes where you are moving

AS A SELLER, YOU DO CONTROL

• The price you ask
• The condition of the property
• Access to the property
• The agent you choose to sell your home

AS A SELLER, YOU DO NOT CONTROL

• Market conditions
• The motivation of your competition
• Value