Determining Property Value
The market approach is based on the premise that a prudent person will pay no more for a property than it would cost to purchase a comparable substitute.
Competitive Listing and Sale Prices:
To form an opinion of value, an agent from Samson Properties will analyze current listings and sale prices of similar homes in your area. He or she will consider properties that have recently sold, are currently for sale, or were offered for sale but did not sell. Although none of these properties is identical to yours, only those that have a high degree of similarity are noted in this report.
An agent from Samson Properties can prepare a detailed description of your property and an estimate of the selling price range in today's market. This is known as the comparative or competitive market value of property.
Staying Current with Market Value
Once your property has been listed, your Samson Properties agent will continually collect and review updated information to monitor the offering price. Observations may include:
Factors that Do Not Affect a Property's Value
Factors that Do Affect a Property's Value
Here are the factors that will determine price range:
Your property: its strongest selling points.
The competition: the asking prices of other homes for sale in your area.
Successful sales: the actual sales prices of home in your area.
The expired listings: homes offered for sale that did not sell.