The Definition Of Market Value
Realtors® are often blamed for prices in the Boise real estate market.
Buyers blame us when they’re too high, and sellers blame us when they aren’t high enough!
Which raises this question:
Q: Who really establishes the value of a home?
A: The market does!
Real estate prices are based upon supply and demand.
Too much supply and not enough demand = lower prices.
Too much demand and not enough supply = higher prices.
Your home is worth what someone will pay for it ~ plain and simple!
Remember: There is no established value until money changes hands !
August 8th, 2009 Posted in Inside Real Estate
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