The agent and the seller set the price based on recent sales in your neighborhood (market analysis), but the value is determined by the buyer.
What is a market analysis?
A market analysis is what was a buyer willing to pay for a home in the same neighborhood, approximately the same size, age, and condition and in recent history. This information comes from the Multiple Listing and Information Service (MLIS) of Las Cruces, NM which contains more than three years worth of sold information.
Charlotte Pinkerton is a member of the MLIS, and can provide you this information at no charge. Would you like to know what your home is worth today? Just contact me at firstname.lastname@example.org, or my mobile phone number at 575 644--7101.
What does not determine value!
* What the seller paid for the house.
* What the seller paid in improvements.
* What the seller needs in terms of money.
* What an appraiser says the house in worth.
* What the tax assessor says the house is worth.
* What other people like neighbors or family say the house is worth.
Don't forget that the buyer determines value!.