While many factors affect the market value of a property, certain key factors can have a major influence
on the sale of a home. let’s take a look at some of the most important:
* Location, location, location! This old adage in real estate stresses the importance of where the
property is located since location is usually a key factor for buyers.
* Market conditions. There are three types of real estate markets… a seller’s market, a buyer’s
market or a stable market. Generally, you’ll find that a stable market has an equal amount of
buyers and sellers.
* The condition of the home. Most buyers are not looking to buy a home that will require a lot of
work due to deferred maintenance, instead they want a home they can move right in to.
* Price. Determining price is more than just picking a number. It involves careful analysis of the
property and market conditions.
Remember… market value is determined by comparing properties that have sold and not determined
by properties that are for sale!