Etobicoke Real Estate

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Understanding Market Value

If you were going to sell your car, what would you do? Well, you would probably check the classifieds section of your newspaper to find out how similar vehicles to yours are priced. Then you would set your advertised price within that range.
What you would be doing, perhaps without knowing it, is determining the “market value” of your car.
Market value is simply what buyers today are willing to pay for a particular product.
When you decide to put your house up for sale, one of the first things you and your REALTOR® will do is determine the market value of your property. That’s important to know because if you price your home too much above its market value, you probably won’t get any offers. Alternatively, if you price your property too low, it might get snapped up quickly but you’ll have left a lot of money on the table.
How does a REALTOR® help you determine your home’s current market value?
He or she will look at a variety of factors, such as the desirability of the neighbourhood, the features of your home, how well it has been maintained, renovations and other improvements you’ve made, and of course, its location.
Your REALTOR® will also review what similar homes in your area have sold for recently

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