Market Value

What is Market Value?

Ah the age old real estate question! 

The Market Value of a home is different from Appraised Value, List Price, What a Neighbor's home sold for etc etc.  What determines market value? 


The true market value of your home is what a buyer is willing to pay:

• Based on today’s market
• Based on today’s competition
• Based on today’s financing
• Based on today’s economic condition
• Based on the buyer’s perception of the condition
• Based on location
• Based on normal marketing time

 As Brokers we have access to the most current, up to date data to help a client determine the best starting point for a list price.

The market value of your home is NOT:

• What you have in it
• What you need out of it
• What you want
• What it appraised for
• What you heard your neighbor’s house sold for
• What the assessed value of your home is
• How much its insured for
• What your mortgage balance is
• What a Website calculates your home's estimate to be...
• Based on memories and treasures
• Based on prices of homes where you are moving

While your home is very personal and the worth of the memories made in your home are priceless, those memories do not translate to market value. 

When it's time to buy or sell, we can help you determine what the current market is bearing in your neighborhood, or in the area you are interested in purchasing a home.  There are many factors that determine a list price, appraised price etc, but true market value at the end of the day is the amount a seller is willing to sell and a buyer is willing to pay!