“The true market value of a home is what a buyer is willing and able to pay for it.”

Setting a sales price for a home is a delicate balance. Price too high and the home won't sell; too low and it won't sell for what it's worth. Of course, the sales price should be based on fair market value--what a knowledgeable buyer would pay and an informed seller would accept.

A home's value has a lot to do with what other similar homes in the area have sold for recently, taking into account size, style, age, number of bedrooms and baths, garage, lot size, condition and, of course, location. Ultimately, though, the price you receive for your home will have to do with who the available buyers are, what they're looking for and what other houses are available for sale.