When buying a new house, the resale value should be an important consideration in the purchase of a house. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we know that although it’s impossible to predict what will happen in the future to the economy and the real estate market, buyer demand will continue to impact the value of your home. A home’s value is determined by educated buyers who shop competitively in the open market. The value of the property is determined by the size, style, lot, age and other features that compare to properties that are currently for sale or have recently sold in the area. The non-transferable value can be found in decorating or upgrades which exceed the expectations of buyers in the price range. While these elements make a home more emotionally appealing, they usually shorten the market time rather than materially increase the cash value of the property. Check out below to see what sold in Meadowbrook Glens in September 2018:
41975 Cherry Hill Road, Novi: 4 bedrooms, 2.1 bathrooms, 2,014 sq. feet, 2 car garage, Sold Price: $320,000
Meadowbrook Glens Home Sold
Knowledgeable buyers will respond quickly to see a new listing but an overpriced property will suggest that the seller is unrealistic, which makes the buyers reluctant to negotiate. Over time, when the price is reduced, buyers lose interested or are concerned that no one else desires the property. This will put the seller at a disadvantage and can cause a below market sale price. For more information on Meadowbrook Glens, or similar Northville or Novi neighborhoods such as Village Oaks, Simmons Orchard and Whispering Meadows, contact The DiMora Team today at 248-505-7728 or firstname.lastname@example.org.