Real Estate Tips
What Affects the Market Value of Your Home?
Your property has many values — one to the tax assessor, others to your lender and insurance company and yet another value to you, the owner. It also has distinct values to prospective buyers depending on their needs, desires and financial resources.Ultimately, buyer value or market value will determine the selling value of your property. At Coldwell Banker Evanston, we help you determine the value of your home based on its own merits, not what the house down the street sold for or how much square footage it has. It is a skill where experience and judgment are of fundamental importance - a skill we have developed over many years serving sellers of fine homes in a variety of price ranges. Some of the factors that can determine the value of your home are:
Location can be the single greatest factor affecting value. Urban or rural settings, quality of school districts, and local amenities are just some of the determining factors of location.
Buyers compare your property against other properties offered in the market place.
The current real estate market may reflect either a buyers' or sellers' market.
Market conditions cannot be manipulated; an individually tailored marketing plan must be developed accordingly.
Property condition affects price and speed of the sale.
Optimizing physical appearance and preparing in advance for marketing maximizes perceived value.