HOME VALUE INFLUENCES With any marketing strategy, it is important to research the market conditions that are currently in昀氀uencing home values. “Market value” is the highest price at which a property will sell on the open market, given a reasonable time period to 昀椀nd a quali昀椀ed buyer. What a property is truly worth (whether that is higher or lower than the selling price) and what prospective buyers are willing to pay for it is known as the “Fair Market Value.” Buyers are in昀氀uenced by the following criteria: • Location of the property • Condition of the property • Buyer demand • Prices of similar properties on the market • Recent sales of competitive properties • Availability of 昀椀nancing 16