In today’s current market determining the value of your property is an interesting exercise.  Let’s start by examining what does not effect the value.  What you paid for your home does not effect it value.  The cash you need from the sale does not effect it’s value.  What you want for your home does not effect the value.  The price your neighbor sold his home for does not effect the value.  What your friends think the value is does not affect it’s value.  What a real estate broker thinks does not affect the value.  What an appraiser, for that matter, says does not effect the value.  So, what does?

In today’s market the value of your home is what a buyer is willing to pay based on how your home compares to others currently on the market.  So, let’s say you have a 2 bed, 2 bath property to list and you value your property at $500,000ish.  Today you would be competing in the Vail Valley with 25 other 2 bed, 2 bath listings between $475,000 and $525,000.   The present absorbtion rate of 2 bed, 2 bath units in this price range is 16.7 months which means there is enough inventory of 2 bed, 2 bath units to supply the market for the next 17 months.  The question you need to ask yourself is what will make your property stand out above the others?    Why?  If you don’t stand out, you will just be in the hunt and can expect to be on the market for quite some time.  How can you stand out?  Find a competent Realtor to help with this complicated answer.

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