Five factors that determine your home’s value!

The Value of a home is based on much more than just the
house itself!  There are many factors
that need to be considered to determine that value:

1. 
   Location: Location is often the number one
   factor that determines the home value.
2. 
   Price: It is crucial to set a realistic price
   from the beginning.  The price will
   affect how long a home stays on the market. 
3. 
   Competition: Buyers will compare the price of
   your homes to similar properties available in the area as well as those that
   have recently sold.
4. 
   Condition: 
   First impressions are important. 
   Buying a home is both emotional and subject; therefore, make sure that
   your home looks good both inside and out.
5. 
   Current Market:  The real estate market is in a constant state
   of flux.  It cannot be manipulated and is
   difficult to forecast.  Conditions such
   as foreclosures and short sales significantly impact homes values.

Article submitted by: Keller
Williams Lakeside Shelby TWP., Doug Andrus, Sara Levin, and Sara Maynard 586-799-8035

Resources: Mi RealSource