There are several things that determine the market value of homes.
The market value of your home is not:
What you have in the home
What you need out of it
What you want
What is appraised for
What you heard your neighbor’s home sold for
What the tax office says it’s worth
How much it’s insured for
Based on prices of homes where you are moving
The true market value of your home is…what a buyer is willing to pay for the property based on:
Today’s economic conditions
The buyer’s perception of the condition of the property
Normal marketing time
Properties that sell in today’s market:
On a scale of 1-10 (“10” are the ones that are selling). How can your property be a “10”?
By improving the condition dramatically
By offering good terms
By improving the way the home shows
By adjusting the price
As you advance through your marketing period, you may observe some warnings:
Realtor elimination- If the Realtors are not previewing it and do not show it, they are eliminating it.
Buyer’s elimination- If it is being shown with no results, the buyers are fining better properties to buy and they are eliminating the property.