Read on to see if any of these points are a bit surprising.
What Does Not Affect Value
- What you paid for the house
- Your remodeling costs
- The amount of cash you need to buy your new home
- What you want for your house
- What your agent says your house is worth
- What other real estate agents say your house is worth
- What an appraiser said your house is worth
- What the tax assesor said your house was worth
- What your house might have been worth two years ago
How is Your Home Value Determined?
- Value is a moment in time—what your house is selling for today (not yesterday or tomorrow)
- Value is determined by what a buyer is willing to pay in today’s market, based on the comparison of your house to others on the market, in both your own neighborhood and others.