Buyers

Common Questions for Buyers

Tips for First-Time Home Buyers

What To Offer

Best Home for You and Your Family

Consumer Household Safety

Energy Saving Tips

Home Inspections

Living Well and Stress-Free

Hiring a Real Estate Appraiser

Title Insurance

Home Warranty

Homeowners Insurance

To Downsize?

To Upsize?


Sellers

Common Questions for Sellers

22 Questions

Determining Market Value of Your Home

How Long To Sell My Home

Listing with a Realtor®

Am I Priced To Sell


Finance

Mortgage Information

Getting That Perfect Mortgage

Get Pre Approved

How Much Do I Qualify For

Avoiding Irresponsible Lending

Managing Home Equity Lines of Credit

Protect Your Biggest Purchase


Home Improvements

Value of Home Improvements

Painting

Staging Your Home for Sale

Staging Your Kitchen for Sale

Staging Your Living Room for Sale


Moving

Planning Your Move

Hiring a Moving Company

Moving with Children

Self-Moving Advice and Tips

 

Determining the Market Value of Your Home

Determining Market Value

Now that you have made the decision to sell your home, it is time to determine its asking price. Since the procedure by which it is calculated can be somewhat complex, you will want to seek the guidance of a trained professional – your realtor. Should you price your home too low, you could potentially cheat yourself out of thousands of dollars. Conversely, if you price your home too high, potential buyers will bypass it in favour of something more reasonably priced. Leaving your home on the market for too long could have the adverse effect of giving it an unfavourable reputation. The object is to choose a price that is neither too high, nor too low. The asking price should be both accurate, given its market value, and fair. Your realtor is familiar with the market and all of its changes. Take advantage of their knowledge and expertise.

 

 

What is Market Value?

Market value is the highest price that a willing buyer and seller, not under any compulsion or outside pressure, agree upon. Determined by outside influences, such as social and political factors, as well as the economy, market value is the price that your home should sell for in the current market. Your home’s fair market value depends on a number of other factors including, how it was built, its location, the condition it is in, the size of both the house and the property it sits on, as well as the price of other similar homes that have recently sold in your neighbourhood. The price you choose will also be determined by the tempo of the market, the public’s confidence in the current economy, and competition within the market. Ultimately, the market will determine the value of your home, not you, making the services of a trained professional who understands it and all of its complexities all the more worthwhile. Don’t hesitate to ask your realtor any questions you may have – their knowledge could save you thousands of dollars please Contact Me for more information.

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Kim Shears-Bailey
Agent
(780) 788-9977
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Each office Independently owned and operated
RE/MAX Fort McMurray
9919 Biggs Avenue
Fort McMurray AB T9H-1S2
Office (780) 743-1369
Fax (780) 743-4369