What determines the value of a home?
As a Real Estate professional I get asked this question daily. I have my ideas and opinions and quite frankly they change as the "market" changes. But the one constant for me has been this: Any given property is worth what someone is willing to pay.
If you are trying to sell a property in today’s market put yourself in the shoes of a buyer. Would you pay what you are asking?
If you were a buyer wouldn’t you study the market and determine for yourself what a certain property in a certain neighborhood would be worth to you? You would or your agent would for you, and though you might be willing to pay above market if you were not worried about resale value in the short term and the property was your dream place.
But for the most part a buyer wants to feel that they are getting their moneys worth and that their purchase will be a good long term investment.
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