What Affects The Market Value Of Your Property?

What factors do buyer’s consider when comparing the value of properties with each other?

Physical qualities of your property

[1] Location.

[2] Age.

[3] Size of house & lot.

[4] Floor plan & architectural style.

[5] Condition.

Market conditions.

[1] Interest rates & availability of financing.

[2] Taxes.

[3] Buyer demand.

[4] Prices of recently sold properties.

[5] State of the economy.

[6] Seasonal demand.

The competition.

[1] The number of similar properties for sale.

[2] Their prices, financing terms, location, condition, property, etc.

[3] How you compare to them.

Some factors that have no effect on the current value of your property.

[1] Original price (what you paid for your property).

[2] What you owe (your current mortgage on the property).

[3] How much cash you need or want.

[4] Opinions (what people say your property is worth).