Newcastle | Bowmanville | Port Hope | Cobourg

Royal Service!   Royal Results!


Head Office: (905) 987-1033

Determining the Market Value of your Home

Now that you have made the decision to sell your home, it is time to determine its asking price. Since the procedure by which it is calculated can be somewhat complex, you will want to seek the guidance of a trained professional – your REALTOR®. Should you price your home too low, you could potentially cheat yourself out of thousands of dollars. Conversely, if you price your home too high, potential buyers will bypass it in favor of something more reasonably priced. Leaving your home on the market for too long could have the adverse effect of giving it an unfavorable reputation. The object is to choose a price that is neither too high, nor too low. The asking price should be both accurate, given its market value, and fair. Your REALTOR® is familiar with the market and all of its changes. Take advantage of their knowledge and expertise.

What is Market Value?

Market value is the highest price that a willing buyer and seller, not under any compulsion or outside pressure, agree upon. Determined by outside influences, such as social and political factors, as well as the economy, market value is the price that your home should sell for in the current market. Your home’s fair market value depends on a number of other factors including, how it was built, its location, the condition it is in, the size of both the house and the property it sits on, as well as the price of other similar homes that have recently sold in your neighborhood. The price you choose will also be determined by the tempo of the market, the public’s confidence in the current economy, and competition within the market. Ultimately, the market will determine the value of your home, not you, making the services of a trained professional who understands it and all of its complexities all the more worthwhile. Don’t hesitate to ask your REALTOR® any questions you may have – their knowledge could save you thousands of dollars.

 

Head Office
20 King Avenue E.
Newcastle, Ontario, L1B 1H6
Office: 905-987-1033
Fax: 905-987-3374

Branch Office
181 Church Street
Bowmanville, Ontario, L1C 1T8
Office: 905-697-1900
Fax: 905-697-1927

Branch Office
42 Walton Steet
Port Hope, Ontario, L1A 2Y8
Office: 905-885-7627
Fax: 905-885-7640

Branch Office
36 King St. West
Cobourg, Ontario, K9A 2L9
Office: 905-372-5428
Fax: 905-372-1701

 

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Trademark owned or controlled by The Canadian Real Estate Association. Used under license.

Trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Information is deemed reliable but is not guaranteed accurate by TREB.


Royal Service Real Estate-Newcastle
20 King Avenue East
Newcastle ON  L1B1H6
(905) 987-1033
(888) 372-4140