10 Things That Don’t Affect Home Value

I love this.  Glenn Bradley wrote this post on his blog, Ask Glenn Bradley, called The Nine Things That Don’t Affect Home Value:

Here are nine items that do NOT affect the market value of a home:

  1. the original purchase price
  2. the amount owed on the mortgage or home equity loan on the property
  3. the list price of other properties for sale in the neighborhood
  4. what the seller thinks it’s worth
  5. the amount of profit the seller needs from the sale
  6. the selling prices of homes in prior years
  7. an appraisal
  8. tax assessment value
  9. the position of the stars and moon

I’ll add one more:

10.   The price a similar house around the corner sold for two years ago.

The sole determinant of the value of a home for sale is the price someone is willing to pay for it.