Determining Market Value

1. Nine Things That DO NOT Affect The Value Of Your Property:

a. What you paid for your property.

b. Your remodeling costs.

c. The amount of cash you need to buy another home.

d. What you want for your property.

e. What I say your property is worth.

f. What other agents say your property is worth.

g. What an appraiser says your property is worth.

h. What the tax assessor says your property is worth.

i. What your property might have been worth before.

2. Four Rules On Pricing:

a. Never own the price you put on your property.

b. Value is a moment in time based on what else a buyer can buy the day the buyer is

looking at your property.

c. Prices are not forever. Values are fluid. They go up and down depending on what other sellers do.

d. Agents and sellers set prices but buyers determine value.

3. The more days your house is on the market, the less a buyer wants it.

4. “Comparable Sales” are of little value in a rising market.