How do Real Estate Agents Determine Your Home's Value?

Written by Posted On Monday, 18 November 2013 10:32

Thinking about selling your home? Understanding what your home is worth can help you decide how much to price your home and how much it is truly worth. Get real insights from experienced Seattle, WA real estate agents.

Local Community

Efficient emergency services and thriving local businesses ordinarily translate into healthy property and home values.

Your Neighborhood

Take a look around your neighborhood. Is it safe? Is it visually appealing? Or does your neighborhood have a high crime and poverty rate? Real estate agents, as well as potential buyers, look into these qualitative and quantifiable properties while assessing your home's resale value.

Quality of the School District

High quality schools raise your home's value. Poor school districts and low graduation rates have the potential to negatively impact your home's value.

Community Amenities

Local amenities such as parks and libraries have the potential to enhance local property values. If community amenities are un-kept, dirty and dangerous, this can negatively impact your home's value.

Urban Planning & Property Zoning

Property values can be influenced both positively and negatively by zoning decisions and community development plans. How readily available are local shopping, entertainment and eateries? Is there public transportation available or easy access to a freeway? What is nearby the home for sale? These important issues are things real estate agents need to consider before pricing a home.

State of the Economy

Home sales and the state of the economy go hand in hand. When the economy is flourishing, asking prices for home sales go up. When the economy is depressed, it will be more difficult to sell your home, therefore influencing to a lower asking price.

Perception of Your Neighborhood

Whether your neighborhood's perceptions are negative or positive, realistic or unrealistic, they do influence property values. These perceptions have the potential to drive your home price into the ground or up into  the stratosphere.

Natural Disasters

Natural disasters such as hurricanes, wildfires and earth quakes have the potential to lower property values temporarily after such an event. If natural disasters are a reoccurring problem, it can depress your home value permanently.

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