Although the listing price you place on your property will influence its sale, there are many other factors that come into place. Some of these factors are within your control, others are not. Examples include:

Factors not within your control:
• Your property’s location
• Recent property market values
• Current economic indicators.

Factors within your control:
• Your property’s distinctive and compelling attributes
• The physical condition of your property (home and grounds)
• The closing date you prefer
• The ready access to your property for showing
• The selection of the real estate sales professional you choose to represent you.

Opinion of Value: Market Price

Market research assists in determining Opinion of Value. Our Comparative Market Analysis considers both recent transfers as well as active listings.
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Ultimately the selling price will be determined by not only comparable properties but by competing buyers. Buyers will establish a “worth” that your property has to them.

In the auction world the highest price for a painting will be achieved by all prospects in a position to both afford and appreciate the painting. In auctions, the consignor may set a reserve. If the highest bid is less than the reserve, the painting will go unsold. This is not unlike real estate property for sale.

In contrast to a painting, however, real estate is location specific. Your property value is closely tied to the history of prices in your same community, region and state.

Purchase of a residential property, at any price, is both an emotional and business decision. The decision to purchase is driven by emotion. The purchase price is tied to both emotion and market data.