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Determining Value – Factors that affect the value of your home in today’s market
Location
- Location is the single most important factor in determining the value of your home
Floor Plan
- Different floor plans will determine different prices, even when compared to similar living or lot square footage
Competition
- Prospective buyers compare your property against competing properties
- Buyers will perceive value based on properties that have sold or are available in the area
Timing
- Property values are affected by the current real estate market
- As the real estate market cannot be manipulated, a flexible marketing plan should be developed which analyzes the current marketing conditions and individual features of the property
Condition
- The condition of the property affects the price and speed of the sale
- As prospective buyers often make decisions based on emotion, first impressions are important
- Optimizing the physical appearance of your home will maximize the buyer’s perception of value
Price
- Pricing your home properly from the beginning is important in determining the length of time it will take to sell your home
- Reviewing this home marketing plan will assist you in determining the best possible asking price
