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What Is Market Value?

The market value of a property or home is the price that a buyer is willing to pay and what the seller is willing to accept.  Real estate agents are trained to pinpoint a home’s market value by looking at a variety of characteristics, including the following:     External characteristics:  Curb appeal exterior condition of the home, lot size, home style, availability of public utilities. Internal characteristics:  Size and number of rooms, construction and appliance quality and condition, heating systems, and energy efficiency. Comps, or comparables:  What similar homes in the same area have sold for recently. Supply and demand:  The number of buyers and the number of sellers in your area. Location:  How desirable is the neighborhood? Are the schools good? Is the crime rate low?