Determining Your Home’sPrice What factorsinfluence the pricing of your home?
The real estate market is Home’s constantly fluctuating, Determining Your Home’s Priceso pricing is Determining Your Price not an exact science. Rather, it’s a reasonable figure derived
What factors influence thepricing pricing yourhome? home? fromfactors a number of different components, such as: What influence the ofofyour Thereal real estate marketisof isconstantly constantly fluctuating, pricing The fluctuating, soso pricing is is • estate The market status the current real estate market. notan anexact exactscience. science.Rather, Rather,it’sit’sa areasonable reasonablefigure figure derived not derived •number Theofexpertise and marketsuch knowledge of your real fromaanumber ofdifferent differentcomponents, components, suchas:as: from
estate representative. • • The status The statusof ofthe thecurrent currentreal realestate estatemarket. market. Hard factsand such as lot size, square footage • • •The expertise market knowledge ofofyour real The expertise and market knowledge your real and estate representative. condition of your home. estate representative. • • •Hard facts square and Hard factssuch suchas aslotlotsize, size, squarefootage footage andspecial Desirability factors, including location, condition ofofyour home. condition your home. amenities and property attributes. • • Desirability Desirabilityfactors, factors,including includinglocation, location,special special •amenities Selling and listing prices of comparable homes. amenitiesand andproperty propertyattributes. attributes. • • •Selling and ofofestate comparable homes. A sophisticated real marketing plan. Selling andlisting listingprices prices comparable homes. • • •AAsophisticated real estate sophisticated real estatemarketing marketingplan. plan. Your level of motivation. • • Your Yourlevel levelofofmotivation. motivation.
Determining Your Home’sPrice Conditionsthat do not affect the price of your home: • The profit you wish to make from the sale. • The amount of money you’ve spent on improvements. • What other sources, such as friends and appraisers, have told you it’s worth. • What you originally paid for the home.