Main Nav

The North Brunswick Real Estate Blog is authored by ERA Absolute Realty and is your resource for everything related to real estate, home buying and selling in North Brunswick, New Jersey and surrounding areas. Looking for your dream home? Want to sell the home you own? We are passionate about our industry and this is our way of opening it to you. For more information please call 732-220-6611.

North Brunswick Real Estate Blog | Your Place for Advice and Information About New Jersey Real Estate

Sub Nav

Do You Know How The Market Value Of Your Home Is Determined?

April 6th, 2008 by Scott Lauri | 9 responses

Click stars to vote (left is low, right is high)

(No Ratings Yet)

Loading ...

[?]

Basically, five major factors influence the fair market value of any home.

Supply and Demand.

Sometimes, in some places, a “seller’s market” exists, where few or no homes are for sale and what is for sale commands a higher price. In other times and places, a “buyer’s market” prevails, where many homes compete for few buyers, and home prices tend to lower in order to affect sales.

Mortgage Money.

When mortgage money is scarce (or “tight”), higher interest rates prevail, and often larger down payments are required. Fewer buyers are then able to qualify for loans, and homes may take longer to sell or require price reductions. Different areas differ widely in loan policy. Down-payment requirements, discount-point practices, and many other elements also affect fair market value.

Seasonal Markets.

Weather plays an active part in creating demand and in influencing the sale of homes. In the South, buyers are most active in the winter months when people go south to escape the cold. In the North, buyers are most active in spring and summer. Of course, there are buyers who are house hunting at every time of the year, and a home put on the market in “off-season” may have less competition.

Economic Climate.

Besides the national economic climate, business conditions of any community strongly affect home sales. Where new business is building, real estate prospers; where business is faltering, home prices fall.

Political Actions.

What happens in Washington, D.C., your state capital, or your home town or city directly affects your property. Changes in sales and income taxes change the value of your home. So do changes in local zoning, property reassessment, property tax rates, appropriations for community projects, and salary increases for government workers.

If you’re thinking about buying or selling a home, we can help you determine what the market value should be for the home you have or the home you choose. E-mail us for assistance in understanding more about market value.

How can you determine the right price for your home? Start by reading our FREE online report, PRICING: Beat Your Competition To The Contract. Simply click the link to read it at no obligation. You may also find the information in our electronic newsletter very helpful. Access it by clicking here.

We’d like to put our expertise on your side and at your service. Your calls and e-mails are always welcome.

[?]

Share This Post - instructions included

The Author: Scott Lauri
About: Scott Lauri is broker/owner of ERA Absolute Realty a full service real estate company in Central New Jersey. He has over 10 years of Real Estate industry experience dealing with peoples real estate needs for buying and selling homes and investment properties. He is interested in helping people realize the dream of home ownership and wealth building and has worked with 100s of clients over the years. Scott is a member of the National Association of Realtor (NAR) and a graduate of Rider University. He enjoys skiing and spending his free time with his family.

This entry was posted by Scott Lauri, on Sunday, April 6th, 2008 at 3:30 pm and is filed under Featured, Home sellers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response on the right, or trackback from your own site.

9 Responses to “Do You Know How The Market Value Of Your Home Is Determined?”

» Do You Know How The Market Value Of Your Home Is Determined? Says:
April 6th, 2008 at 4:18 pm
[…] Scott Lauri is a true recipe for delightful information. Do You Know How The Market Value Of Your Home Is Determined? is very interesting… Below is a summary: […]
How Do I Sell My House For Sale By Owner Says:
April 18th, 2008 at 3:25 am
How Do I Sell My House For Sale By Owner…

I have to say, that I could not agree with you in 100%, but it’s just my opinion, which could be wrong….
Jessie Says:
April 27th, 2008 at 11:07 pm
Jessie…

Great post, very informative. Have learned a lot from your site….
national housing market Says:
May 3rd, 2008 at 3:34 am
national housing market…

I found your site via Google while searching for %KEYWORD% and your post regarding %TITLE% looks very interesting to me….
Real Estate House Of Representatives House Md Says:
May 29th, 2008 at 11:27 pm
Real Estate House Of Representatives House Md…

I didn’t agree with you first, but last paragraph makes sense for me…
Ecommerce Michigan Ecommerce Base Business Home Online Opportunity Says:
June 6th, 2008 at 2:55 pm
Ecommerce Michigan Ecommerce Base Business Home Online Opportunity…

I didn’t agree with you first, but last paragraph makes sense for me…
Money Magazine New Construction Associated Press Says:
June 8th, 2008 at 2:31 pm
Money Magazine New Construction Associated Press…

I didn’t agree with you first, but last paragraph makes sense for me…
business high home income online Says:
June 16th, 2008 at 7:02 pm
business high home income online…

I am afraid I can’t see the point of this!…
washington home loan Says:
June 26th, 2008 at 3:55 am
washington home loan…

It sounds interesting but I am not sure that I agree with you completely….