Homeowners often ask: "How much is my home worth right now?" The answer isn't simple, as there are many factors that affect the value of a home in a current market.
LOCATION: The location of your home determines school choices, commute times, recreation opportunities and other desired resources.
SIZE: A home with more livable space will usually have more value than a smaller home. Livable space includes square footage, as well as the number of rooms and lot size.
AGE: Age can be a factor if a home's interior is outdated, or if it has functional issues like electrical or roofing.
CONDITION: A home that has been well maintained over the years will retain it's value and be less likely to require costly repairs after purchase.
CURRENT LOCAL MARKET: When demand is higher than supply, home prices rise, and if there is more supply than demand, prices tend to be lower.
COMPARABLE SALES: What nearby homes with similar features (size, age, number of bedrooms/bathrooms) have sold for recently.
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