A Home Is Worth What It Is Worth_Part Three

Factors That DO NOT Affect the Value of a Home_Continued

• When the Home Was Purchased
  
  

Whether a home was purchased twenty five years ago, three years ago or just last year, the purchase price was the value when it was purchased, and has nothing to do with it’s market value when being sold. A seller with twenty five years of home ownership and substantial equity has the same right to fair market value as an owner with just 3 years of home ownership and perhaps little or no equity accumulation.

Decisions to sell may be difficult for owners with short term ownership especially when real estate values have not increased, or have possibly dropped since the home was purchased. Home owners with long term ownership and substantial equity can make selling decisions easier than owners selling their home without the benefit of real estate appreciation.

In either case, the market is the market, regardless of when the home was purchased, and the home is worth what is worth.

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