While a number of factors come into play, in the end a property’s worth is judged by only one figure — how much is somebody prepared to pay for it at the time? The most significant considerations for pricing a property are recent sales and current competition.
The former is a review of what other properties of this type have sold for, while the latter takes into account similar homes that are presently on the market. Your Flatroom real estate agent can provide you with information and advice regarding both of these aspects of the house-hunting process through competitive market analysis.
It is also import to take note of the prevailing market conditions, as these can generate a genuine insight into short-term trends and help prospective homebuyers gain a feel for what they will need to pay to achieve their goals. If high buyer demand exists at a time when very little property is actually available, prices are likely to increase.
«Seller motivation» — the reason the current owner is attempting to offload the property — might also play a major role in determining the final cost. If a quick sale is required, vendors have little choice but to accept the best offer at the time without the luxury of waiting for a better deal.