1. Location, Location, Location
Never has it been so realistic as to experience what happened to prices at Blue Mountain when Intrawest purchased Blue Mountain Resorts. While some people want to be located at the resort, others prefer a quieter investment. Proximity to local amenities, schools, parks, stores, churches, beaches, golf courses as well as future devlopment plans and waterfront improvements, all affect market value. Property sizes relate to lot sizes, farm sizes and waterfront widths. These criteria will impact how much in town sells for on a wide or narrow lot, how much a farm sells for and how much a waterfront lot will sell for.
2. Condition of the Home
A buyers first impression (curb appeal), floor layout, general condition of main systems, condition of roof, condition of the electrical system, furnace, central air, all impact what a buyer will pay for a property.
3. Comparable Properties
The marketplace is not based on a list price but what are the selling prices of comparable neighboring homes. A knowledgeable home owner must have this information available through their realtors.
4. Market Conditions and the Economy
The number of homes currently on the market and the number of people looking to buy is judged by the amount of traffic and enquiries that busy realtors are experiencing. In a stable economy, buyers have greater confidence and are prepared to endure risk if the market signals are strong.