1. The value of a home is the amount a buyer is willing to pay under a given set of circumstances. The seller sets the price, but the buyer determines the value.

2. A home surrounded by smaller, less expensive homes decreases in value. A home surrounded by larger, more expensive homes increases in value.

3. Value is not determined by cost or how much is invested, but by the benefit or value derived. For example, a home with a new roof that cost $6000 will probably not sell for any more than a home with a new roof that cost $3000. The value is in keeping the home protected from the elements, not the cost of the protection.

4. Value is determined by what a purchaser gets from a home, and not what a seller has put into it.

5. Improve your home for your pleasure and enjoyment and not because you think you might add value for a resale.

6. Base your opinion of value on documented recent sales. It’s what a purchaser’s lender and appraiser will do.

7. A seller’s need for money does not increase the value of a home.

8. Value is specific to given location. The same home in two different areas will probably have different values.

9. A home that is priced right is more likely to attract an offer closer to the listed price.

    .