• Location, design, amenities and condition
• Availability of comparable (competing) properties
• Economic conditions that affect real property transactions
• Factors that have little or no influence on the market value of a house include:
  1. The price the seller originally paid for the property
  2. The sellers's expected net proceeds
  3. The amount spent on improvements
• The impact of accurate pricing:
1. Properties prices within market range generate more showings and offers, and sell in a shorter period of time
2. Properties priced too high have a difficult time selling

Determining Market Value

Market-sensitive pricing can be the key to maximum market exposure and ultimately a satisfactory sale. The existing pool of prospective buyers determines a property's value based on the following:

An impartial evaluation of market activity is the most effective way to estimate a property's potential selling price. A Comparative Market Analysis (CMA) considers similar properties that:

• Have sold in the recent past
  This shows us what buyers in this market have actually paid for properties similar to yours.
• Are currently on the market
  These are properties that will be competing with yours for the attention of available buyers.
• Failed to sell
  Understanding why these properties did not sell can help avoid disappointment in the marketing of your property.

 

 

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