Under normal circumstances, in an open and fair negotiation, a seller of real property expects to receive the house market value of that real property from a buyer. Most of the time there are professional appraisers, or real estate agents, who determine the house market value of a home based on a myriad of key points. However, in the tumultuous real estate market today, you’ll find market values fluctuating rather dramatically. You may discover that your real estate professional’s determination of the house market value of your home does not meet the true market value, which will be decided by what amount a buyer decides they are willing to pay.

It is important to know the current house market value if you want to sell it as that is what helps establish the asking price. A lot of sellers don’t seem to understand that knowing the house market value can mean pricing their home too low or too high, and both of those choices might cause some negative financial results. In addition, a lot of homeowners have been convinced by a lender to borrow more money than the actual worth of their home, which is called predatory lending.

A professional real estate agent or appraiser will start out comparing what properties similar to yours have sold for recently in the area to determine the house market value. This is what is referred to as comparables by real estate professionals. They begin by locating homes in the general area that are similar in style and square footage to yours and have actually sold during the past six months to one year. They also check the average price per square foot being commanded by homes in your area. It is not this process by itself that determines a home’s market value, but it does give a fairly solid base to then determine what a reasonable asking price should be.

There are other factors, like property improvements as well as the property’s overall condition, that will have a slight affect on the market value. Primary improvements, such as updates or remodels to bathrooms and kitchens, help to increase market value as well. Then there’s cosmetic updates such as new carpet, fresh paint, window treatments, and new light fixtures that certainly show off a house much better, but do not contribute to the market value overall. The property’s condition also has an affect on its market value as well. Any home that has well-maintained, or even newer mechanical systems, entry doors, roof, and windows will help you command a much better price than one with structural problems or outdated mechanics.

If you are wondering what the house market value might be for your home, there are quite a few real estate agents that would be happy to give you a free basic appraisal in the hope you’ll call them when you get ready to sell. You can also come up with a reasonable assessment yourself by checking with your county’s real estate tax records which are open to the public. Today a lot of counties have their own online databases for their public records, which should give you enough relevant information to come up with a close enough figure. If you are seriously considering the sale of your home, however, you’d do better to get several professional opinions on what your home value might be before you decide to list it.