Some of the factors affecting offer prices are:
Upgrades and Improvements
When a Buyer sees a home, they see it as it is not how it was when you bought it. A $20,000 finished basement is not an added feature if all the homes have finished basements. However, an extra bathroom can be worth $2000-$3000 more when the home sells.
Interest Rates
A change in interest rates can change the number of potential Buyers looking for homes. More Buyers means higher prices.
New Homes
The number and price of new homes being built in your neighbourhood will affect the number of Buyers interested in your home.
Time of Year
The time of year you are selling your home and the closing date you ask for will affect the price of your home. For example, selling in January, or asking the Buyer to wait six months to move in, will reduce the price the Buyer is willing to pay.
The Media
Reports of a good economy or bad, higher or lower unemployment, and stock market predictions can all affect Buyer confidence. For example, many investors will buy real estate when the stock market is down. This increases the potential Buyer pool and increases price.
Curb Appeal
How the home looks when a Buyer arrives will affect the price. The condition of the home, yard, and driveway will all be noticed. Even how the home is situated on the lot or which side of the street it is on can make a difference.
Services
The location of your home in relation to schools, shopping, transportation, and highways will impact the price.
Area Influences
Parks, greenbelts, and ravine lots can have a positive affect on price. Hydro wires and major roads can affect the price negatively
The Agent
An experienced Agent knows how to maximize the positive qualities of your home, while minimizing any potential problems a Buyer may have.