Return to Selling

 Factors that Do Not Affect a Property's Value:

• What the owners paid when they built or bought the property
• Some of the improvements and upgrades the owners have made to the property
• The cash proceeds the owners want or need from the transaction
• What friends, neighbors, or relatives say a property is worth

Factors that Do Affect a Property's Value:

• Style, condition, age, decor
• Location
• Time of year
• Property and neighborhood
• How quickly seller needs to sell
• Competitive Pricing: The Pricing of Choice
• The probability of receiving an acceptable offer on your property and completing a sale diminishes significantly when your asking price is higher than the current market value.

Factors that will determine price range:

• Your property: its strongest selling points
• The competition: the asking prices of other homes for sale in your area
• Successful sales: the actual sales prices of home in your area
• The expired listings: homes offered for sale that did not sell

Staying Current with Market Value:

• Professional opinions 
• Broker / Agent response
• Buyer reaction
• Current market conditions
• Competing properties
• Availability of financing
• Number of showings
• Length of time on the market 
• Interest rates
• Condition of the property
• Seller motivation