The market value of your home is the result of an agreement between you and a willing, informed buyer.
The market value of your home is based on:
- Today’s market
- Today’s competition
- Today’s financing
- Today’s economic conditions
- The buyer’s perception of its condition
- The property’s location
- Normal marketing time
It is NOT based on:
- What you have in it
- What you need out of it
- What you want
- What it is appraised for
- What you’ve heard your neighbor’s house sold for
- What the tax office says its worth
- How much it is insured for
- Based on memories and treasures
- Based on the price of the homes in the area where you are moving