How Will Market Value for Your Home be Established?

How Will Market Value for Your Home be Established?

Market value is simply what a buyer is willing to pay and a seller is willing to accept. This answer assumes that both parties are well informed about closed home sales that are “comparable” based on four important factors:

1. Location. Even within the same city, different neighborhoods can have completely different market values. Compare prices of recent sales in the same community.
2. Age. Comparable homes should be built within a couple of years of yours. Building codes and style trends vary with time and greatly affect value.
3. Size of home and lot. Buyers are sensitive to the price per square foot. Your home may be unique but buyers will compare the price per square foot with neighboring properties for both the home and the land.
4. Property condition. As the seller, you have many opportunities to increase the attractiveness of your home by getting it in tip-top condition and staging the rooms before placing the home on the market.

Thinking of selling your home this year? My Home Value Analysis is much more than a simple home valuation. It’s a complete top-to-bottom review not just of the value of your home, but every aspect of your home. To request a no obligation audit of your home’s value or if you have any questions, email me at [email protected].

About the Author

Brandon Lau grew up in Kailua and currently resides in Honolulu with his wife Andee and children Caylah, Elijah, and David. His eighteen years in real estate led him to become a Partner at ChaneyBrooks Choice Advisors. Over the past 10 years he has developed the team and systems that has created a high level of service and value for his clients.

What differentiates Brandon and his team is his consultative approach to real estate. He advises clients with relevant data and expert insight to help them make the best choices in real estate. Good choices in planning for long term dispositions, negotiating for the best price or knowing when not to pursue an investment are ways his consultative services will give you an advantage in the marketplace. His bottom line is providing service with the utmost integrity and expertise.