The term value may seem like a subjective concept that exists in the eye of the beholder. For example, a certain home may have a greater perceived value to certain individuals. This can be a result of emotional attachments, such as memories of events that took place there, or strong feelings tied to the home itself. Alternatively, a property may seem to have less value to someone who has no need for its features.
However, market value is far more objective in nature. While buying or selling a home can be an emotional decision, it is important to set aside emotions during any real estate transaction to every extent possible, though they are impossible to eliminate. The smartest, safest way to make sound real estate decisions is to arm yourself with information and remain objective throughout the process.
How Can You Determine Value?
When evaluating home values, consider factors that affect the home’s inherent value. These features include square footage, the age and condition of the house, and any added luxury amenities such as a swimming pool or Jacuzzi tub. Without a doubt, location is the single strongest influence in calculating market value.
The value of a home can be mathematically and statistically calculated. This process has been used by real estate investors and mortgage lenders for years, and is now available to the general public through our HomeSmart Value Report. For only $24.95, you can get accurate and up-to-date objective information about the value of any residential property. This will enable you to remain objective, deal with only facts, and make an informed decision using current, high quality information.