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Determining the Market Value of Your Home


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Determining the Market Value of Your Home

  1. 1. How do you sell your home for the best price, in the shortest time, with the most favorable terms and conditions? By pricing it right to begin with Determining the fair market value of your home Market value is the value of your house as seen through the eyes of a prospective buyer who has many properties to choose from. COST – What was paid plus capital improvements PRICE – What the seller wants VALUE – What a buyer is willing to pay MARKET VALUE – What a willing buyer and seller will agree upon Things to keep in mind about pricing: ♦ Realistic pricing will achieve maximum price in a reasonable time. ♦ Profit desire often times determines the listing price; however, the market determines the selling price. ♦ The cost of improvements is almost always more than their added value. ♦ Houses that remain on the market for a long time lose interest and do not get shown. ♦ A house that is priced right from the beginning achieves highest total net income.