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Determining Your Home Market Value

If you would like more information about determining the market value of your home Contact Us and we will be happy to help you. If you would like to buy or sell a home or property visit our Buyers Page or Sellers Page.

Determining Market ValueNow that you have made the decision to sell your home, it is time to determine its asking price. Since the procedure by which it is calculated can be somewhat complex, you will want to seek the guidance of a trained professional – your realtor. Should you price your home too low, you could potentially cheat yourself out of thousands of dollars. Conversely, if you price your home too high, potential buyers will bypass it in favour of something more reasonably priced. Leaving your home on the market for too long could have the adverse effect of giving it an unfavourable reputation. The object is to choose a price that is neither too high, nor too low. The asking price should be both accurate, given its market value, and fair. Your realtor is familiar with the market and all of its changes. Take advantage of their knowledge and expertise.

 

What is Market Value?

Market value is the highest price that a willing buyer and seller, not under any compulsion or outside pressure, agree upon. Determined by outside influences, such as social and political factors, as well as the economy, market value is the price that your home should sell for in the current market. Your home’s fair market value depends on a number of other factors including, how it was built, its location, the condition it is in, the size of both the house and the property it sits on, as well as the price of other similar homes that have recently sold in your neighbourhood. The price you choose will also be determined by the tempo of the market, the public’s confidence in the current economy, and competition within the market. Ultimately, the market will determine the value of your home, not you, making the services of a trained professional who understands it and all of its complexities all the more worthwhile. Don’t hesitate to ask your realtor any questions you may have – their knowledge could save you thousands of dollars please Contact Us for more information.

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Reta Sponsky Your Full Service REALTORS®

As life-time residents of Maryland and full-time, full-service realtors since 1989, we use our knowledge to advocate for you! Our goal is to provide our clients personal and professional service. You make all the decisions and we act aggressively on your behalf. For sellers, we offer high-tech marketing, virtual tours, concierge services and more. For buyers, we offer full buyer representation, financing, new construction and more.

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“The Sponsky Team makes even the most complicated transaction seem as if it is an easy process. They show the highest level of professionalism and integrity no matter what they do. I felt as if they were partners with me every step of the way and that no detail was too small for them to handle...[Read More]