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Answers (1)
Best Answer
- Theresa Trentacosta, "TTrentacosta"
- Contributions:200
The value of your house is determined by the last few sales in your area. For example, if your neighbor's house is basically the same size and condition as yours and they sell for a very low price, your house is now going to be based on what your neighbor sold for. The buyers out there know this is their opportunity to get a good deal in the market. The typical buyer will shop for the best deal they can find by weighing the pros and cons of each property, price, location, amenities and condition. Once one house similar to yours sells low it sets a precedent for future sales of houses that are like that one.
7 Harvest Lane
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