The Housing Market and Your Home
The price your home could sell for is directly related to the housing market- specifically, the housing market right around your home. Real estate agents set the sales price of a home by comparing what similar homes around it have sold for. A home that sold for a large amount of money right up the road from you can up the price of what your home may be able to sell for. Alternately, the foreclosure down the road from you will have a negative impact on your potential sales price.
If you are curious about the housing market around you, your REALTOR is able to generate a list of homes sold in your neighborhood within the past 3-12 months. This will give you a good idea of what the housing market is like in your neighborhood and can give you some insight as to what your home could possibly sell for.
