What factors determine your Homes Value
Several factors must be considered when determining the asking price of a home.
1) Urgency of the sale.
If the homeowner is facing foreclosure-or the prospect of paying mortgage payments & monthly bills on a house that must be left vacant, obviously the asking price may need to be reduced.
2)Competition.
If your home is in a desirable neighborhood, its value to prospective buyers will increase if there are few homes available in that area.
3)Comparative Value.
Agents tend to price a home in line with other similar property in your area.
4)Transferable Loan
If your home has a loan at a favorable rate that can be assumed. (like VA or FHA), the buyer may be inclined to pay more for your home in exchange for lower mortgage payments in the future.
The following factors are of little or no value in pricing a home.
1)Your cost. (Buyers are only interested in paying a fair price)
2)Assesed property tax value. (Property taxes are often not in line with a homes true worth.)
3)Insured Value (The cost of rebuidling a home is often not an accurate guide to market value.)
4)Your needs and emotions (Supply & demand are the overriding factors in home sale prices.)
Tip:
If you are uncomfortable with your real-estate agents pricing of your home, consider.
1)Contacting other agents for their opinion.
2)Getting a professional appraisal.
http://www.pftown.com/index.php/pricing-your-home-for-sale/
