What Is Market Value?

So, what does "Market Value" really mean?

First, market value is NOT:

• What you heard the house around the corner sold for.
• What you'd like to get for it.
• What you added to it.
• What you must get out of it to get the next one.
• What the bank said it was worth.
• What the tax assessor said it was worth.
• What your friends and family think it's worth.
• What the appraiser said it was worth.
• What you have invested in it.
• What your insurance company said it was worth.

The market value of your home is simply what a buyer is willing to pay for it based on:

• Location.
• Your current competition.
• The current market and economic conditions.
• Current financing.
• The buyer's first impression of the condition of your home.

Remember, you can make your home sell closest to the full market value:

• Asking Price should equal current market value.
• Make your home shine inside and out.
• Offer good terms.
• Repair anything that needs repair.
• Make condition top notch.