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Determining Your Home Market Value

If you would like more information about determining your home market value or have any questions please don't hesitate to Contact Us. If you are thinking of buying your home visit our Buyers Page or if you are wanting to sell your home visit our Sellers Page.

Market Value of Your HomeNow that you have made the decision to sell your home, it is time to determine its asking price. Since the procedure by which it is calculated can be somewhat complex, you will want to seek the guidance of a trained professional – your Realtor®. Should you price your home too low, you could potentially cheat yourself out of thousands of dollars. Conversely, if you price your home too high, potential buyers will bypass it in favour of something more reasonably priced. Leaving your home on the market for too long could have the adverse effect of giving it an unfavourable reputation. The object is to choose a price that is neither too high, nor too low. The asking price should be both accurate, given its market value, and fair. Your Realtor® is familiar with the market and all of its changes. Take advantage of their knowledge and expertise.

 

What is Market Value?

Market value is the highest price that a willing buyer and seller, not under any compulsion or outside pressure, agree upon. Determined by outside influences, such as social and political factors, as well as the economy, market value is the price that your home should sell for in the current market. Your home’s fair market value depends on a number of other factors including, how it was built, its location, the condition it is in, the size of both the house and the property it sits on, as well as the price of other similar homes that have recently sold in your neighbourhood. The price you choose will also be determined by the tempo of the market, the public’s confidence in the current economy, and competition within the market. Ultimately, the market will determine the value of your home, not you, making the services of a trained professional who understands it and all of its complexities all the more worthwhile. Don’t hesitate to ask your Realtor® any questions you may have – their knowledge could save you thousands of dollars please Contact Us for more information.

For more information on buying a home please visit our Buyers Page, for helpful information on selling your home please visit our Sellers Page. If you have any questions about anything or would like more information on anything Contact Us. If you would like to know more information about the areas that we specialize in please visit our About Virginia page, About Falls Church page, About Fairfax County page, About Springfield page, About Arlington page, or our About Alexandria page.