Your home’s market value is something you should think about with every project, not just when you’re getting ready to put your house back on the market.
Property value can increase over time. As economist Darrell Francis said, “Supply and demand is the most basic reason for this. As population and wealth increases, the demand for land increases.”
If you’ve seen an increase in your property value on a recent city assessment, but you don’t know why look around your community. Have there been any houses that have recently sold? Are the residents making noticeable improvements in their homes? Are any new homes being built?
However, property value and market value are two different things. SFGate.com defines property value as an estimate of what…