Value Vs. Price

What is the difference between value and price?

The terms “Value” and “Price” are not the same thing and should not be used interchangeably.
The price is what the seller is asking for the property. The value is what the property is worth, or in
other words, what a buyer is willing to pay for it.

There are several criteria that go into pricing a home and determining its value. Recent sales in the area,
the condition of the property, the assessed value of the house and the location all come into play.
With rising interest rates, the tendency is to wait for prices to hit their low. The problem with this
strategy is how will you know when we are at that low point? Wait too long and prices will be rising and
you will find yourself in competition.

And that bring us back to value. If you find a property that is a good value for you and your family that
meets your financial means for a monthly payment and it is a good time for you to buy, then those
criteria should carry more weight than trying to time the market which is almost always a failure.

We can navigate your home buying process together, just send me a message with your questions and
let’s get started!