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When you are thinking of selling your home, its important to consider the current real estate market place and how to evaluate your home in particular. Most home owners are not surprised at the general price range their home might sell in. However, some expect to hear a higher value than what an objective analysis concludes. The true market value of your home is what a buyer is willing to pay: v Based on todays market v Based on todays competition v Based on todays financing v Based on todays economic condition v Based on the buyers perception of the homes condition v Based on location v Based on normal marketing time v Based on showing accessibility It is helpful to keep in mind that the market value of your home is NOT: v What you have in it v What you need out of it v What you want it to be v What it appraised for in refinancing v What your neighbors house is listed at v What the tax office says its worth v How much your neighbors house sold for v How much your neighbors house is listed for v How much it is insured for v Based on memories and treasures v Based on prices of homes where you are moving v The highest list price suggested by one of the agents you are interviewing For those thinking about selling someday, the homes that will sell are those that v Are well-priced at the start of marketing v Are properly prepared before showings begin v Are substantially in good condition, or are perceived as excellent investment value fixers v Are well and thoroughly marketed As a final reminder there are items both inside and outside of the sellers control: v You control the price you ask v You control the condition of the property v You control access to the property for showings, inspections, etc. v You dont control the market conditions or the motivation of your competition v You dont control value |