CHAPTER 2 First Steps to Home Selling o Home Selling
You’ve heard it before: Location, location, location. And it’s true—where your home sits is one of the biggest factors in determining its value. Whether you’re selling a single-family home, a condo, or a duplex, location plays a starring role in how buyers perceive your property and what they’re willing to pay. But pricing a home isn’t just about geography. It’s not a simple formula or a quick calculation. It’s a layered decision that blends market trends, property condition, timing, and buyer psychology. Throughout this book, you’ll see examples of homes that look nearly identical on paper—but sold for dramatically different prices. Why? Because pricing is part science, part strategy, and part storytelling.
Value, Worth, and Price—What’s the Difference?
Before you list your home, it’s important to understand the three key terms that shape its perceived value: • Market Value: What a buyer is likely to pay in today’s market. It’s based on location, demand, and comparable sales. • Appraised Value: A professional estimate of your home’s worth, often used by lenders to determine loan amounts. • Assessed Value: The number your local government uses to calculate property taxes. It’s not always aligned with market value. Each of these numbers tells a different story. And while they’re all important, none of them alone determines your final sale price.
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