5 Factors that Determine Home Value

The Right Price
Pricing your home properly from the start is the deciding factor on how long it will take to sell your home. 

Timing is Everything
What is happening in the market? Is inventory low or high in your area? As of now, inventory is at an all time low and the market follows the basic law of supply and demand. When supply is low, and demand is high, the value of your home increases. In addition to a the status of the market, when interest rates are good the buyer pool for your home is larger. For every point interest rates increase, your price needs to decrease by 25 to 30 thousand dollars to attract the same buyer you had when the rates were low.

Location is Still King
Is your home located in an area where the buyers want to live? What are your neighborhood amenities? Are you close to highways, schools and shopping? If your home is located in a desirable area, it will most certainly have a higher value.

Condition
Condition affects the value and the selling point for your house. What is the condition of your property? Is there deferred maintenance? How is the roof? The windows? What updating has been done? How is your curb appeal? Looking inviting from the street is crucial. Need help? Check out some tips on landscaping and curb appeal in this post.

Get Competitive
Prospective buyers are going to compare your property - both the condition and the price - to other listings in and around your neighborhood. Buyers will determine value of your home based on the properties in your area that have recently sold or are listed.

Interest rates and inventory are low, which makes now a really great time to sell your house! Please call or click for a professional consultation and market analysis.