Understanding Market Value

• Location, design, amenities and condition
• Availability of competing properties
• Economic conditions that affect real property transactions

• The price the seller originally paid for the property.
• The seller’s expected net proceeds.
• The amount spent on improvements.

Have sold in the recent past

This shows us what buyers in this market have actually paid for properties similar to yours.

Are currently on the market

These are properties that will be competing with yours for the attention of available buyers.

Failed to sell

Understanding why these properties did not sell can help avoid disappointment in the marketing of your property.

An impartial evaluation of market activity is the most effective way to estimate a property’s potential selling price. A general rule of thumb to keep in mind is that a prudent person will pay no more for a property than it would cost to purchase a comparable substitute.