The Price is Right – Home Edition

/ , / , , , , , , , , , , , , , , , , , , , , , , , , , , , , /

yourhomesmarketvalueThe True Market Value of Your Home Is:

What a Buyer is Willing to Pay for the Property and What a Lender is Willing to Lend

Market value IS:

  • Based on today’s market.
  • Based on today’s competition.
  • Based on today’s financing.
  • Based on today’s economic conditions.
  • Based on the buyer’s perception of property condition.
  • Based on location.
  • Based on normal marketing time.

price-is-rightMarket value is not:

  • What you have in it
  • What you need out of it
  • What it is appraised for
  • The Zillow “Zestimate” (or any other computerized valuation)
  • What you heard your neighbor’s house sold for
  • What the tax office says it’s worth
  • What it is insured for
  • Based on memories and treasures
  • Based on prices of homes where you are moving

For an accurate and comprehensive valuation, contact your local Realtor for a free market analysis!

Hampton Roads Real-e-statement is written by Alyssa Godwin, a Realtor with Liz Moore and Associates. For questions regarding buying or selling contact Alyssa at 757-329-6161 or alyssagodwin@lizmoore.com. You can also find Alyssa on Facebook or on the web at www.lizmoore.com/alyssagodwin.