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| Many sellers don't understand that "bricks and mortar" are not the only things that create value in a home. Today's key to value also goes beyond the old real estate maxims: location, location, location, and your house is only worth what a buyer is willing to offer. The market value of your home is also dependent on other factors as well. |
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| MARKET VALUE IS ALSO TIED TO SEVERAL TRENDS |
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Economic conditions of the area that affect the real estate market such as unemployment, foreclosures, and interest rates to name a few.
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National, state, and/or local political activity that produce changes in tax laws and tax rates, regulations, zoning restrictions, reassessments of property.
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Supply and demand, which create either a "buyer's market" (when there are more sellers than buyers) the house prices may drop, or a "sellers market" (when there are more buyers than sellers), causing the house prices to go up.
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Seasonal influences create "buying season" and an "off-season", although this traditional trend has given way to year-round selling.
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