There are key factors that influence the market value of your property, some we can control, and other we have no control over them.
These factors we have control over them: Condition of the property, Timing and terms of the sale.
These factors we have no control over them: Location, Age, size of house and lot, floor plan, the market conditions (interest rates, buyer demand, and state of the economy), and the competition (similar properties for sale).
Some factors have no effect on the current value of your property: Original price, needed proceeds, and what people say your property is worth.
Your house has many values to your lender and insurance company, the tax assessor, and to you! Market Value is "The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale.
Assessed Value is the term that your local government uses for determining your real estate tax bill.
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