Determining Value

Location: Location, Location, Location is the top consideration when determining value. This includes - Availability of transportation, shopping and schools, also serenity and the neighborhood.

The actual house: This includes the square footage, home design, construction quality, the floor plan, views, landscaping, and lot size, and the condition of the house, and house amenities.

Timing: The current market will dictate a large amount of the current price of your house. This includes supply of homes for sale, financing for buyers, and interest rate.

Pricing: Very seller wants top dollar for their house. But if it is priced too high you will loose potential buyers. If price it at or just below market value you will have a better chance of receiving multiple offers at a price you are looking for. Pulling similar comparable listings and sold properties will let you know what the homes are really selling for. Be sure to compare apples to apples.

Be Realistic About Appreciation. Since the housing market began to slow significantly in late 2007, home prices have fallen all over the country. Yet understanding trends in your specific market is critical - as not all areas have experienced the same drops. Some regions of the country have remained more steady relative to prices, and are even back to experiencing modest appreciations. While other areas have had higher drops in value.

If you bought your home many years ago, the gains you made in the decades before the downturn may still be far more than recent drops. Lets say you bought a house in 1990 at $100,00 and in 2004 it was valued at $400,000, but now you can only sell it for $300,000 you still made $200,000! Speak with your real estate professional to get a realistic view on how your home has gained or lost, relative to its value and potential price.