how much is it worth?........

Evaluating Property 

In the real estate industry, the concept of value is vague. The value of a house (or condo, or co-op, or townhouse) fluctuates often, based on many situations, such as an ever-changing market conditions, the condition of the home, and the costs associated with owning it.

For that reason, it's difficult to answer the question, "How much is it worth?" 


There is one certainty, however.......the answer to true value does not lie in how much the seller wants for his or her home (though that is what the seller and the listing broker want you to believe). In fact, the listing price of a home sometimes has nothing to do with its market value.


Figuring out how much a home is actually worth is a tricky process. You'll have to do your homework, pull out your calculator, and spend some time learning to recognize certain "value markers." 


Once you've figured out what a property is worth relative to others that are similar in the area, you can begin to compare various homes. Where a home is located (within a city, within a neighborhood, on a particular street, within a single building) is crucial to determining its value. 


When you begin to compare homes, it's important to factor location into your house valuation formula. First, think about where the house is located in relation to the entire neighborhood. Are shops and various services within walking distance? Is the house close to major forms of transportation and to the schools your children will be attending? Is it too close to any of these amenities?


There are many more factors which help to define how much a property is worth .... just drop a note if you want to know more.