UNDERSTANDING MARKET VALUE
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Market-sensitive pricing can be the key to maximum market
exposure and, ultimately, a satisfactory sale.
The existing pool of prospective buyers determine a property's value, based on:
* Location, design, amenities and condition
* Availability of comparable (competing) properties.
* Economic conditions that affect real property transactions.
Factors that have little or no influence on the market value of a house include:
* The price the seller originally paid for the property.
* The sellerís expected net proceeds.
* The amount spent on improvements.
The impact of accurate pricing:
* Properties priced within market range generate more showings and offers, and
sell in a shorter period of time.
* Properties priced too high have a difficult time selling.