One according to the Market Analysis done by me is a value, one to the appraiser, and another one to you.
It also has different values to prospective buyers depending on what kind of buyer they are such as first time home buyer, empty nester, snow bird or investor.
However, in the end, what determines the selling price of your home isn’t necessarily any of these things, nor is it what you paid, nor the price that you want for your home. What determines the selling price of your home is the market.
One of my most important jobs is to set a listing price that creates the best possible market for your property. In order to do that, I will perform a Comparative Market Analysis or CMA. A CMA compares your home to similar properties within a 2 mile radius of your home. It also takes into consideration location, size, upgrades and normal wear and tear.
One of the most important things to remember is that I will look at other determining factors such as how quickly homes are being sold in the area. Is it a seller’s market or is it a buyer’s market? What time frame are you wanting to be out of your home and how quickly you need to sell will also help to determine what price your property should be listed.