<--Back to Wiki Home
Value, in the context of real estate, refers to the worth of a property as determined by various factors such as its location, size, features, and the current market conditions. It's an estimate of the amount someone might be willing to pay for a property at a given time.
For example, imagine there's a house with three bedrooms and two bathrooms in a desirable neighborhood. The value of this house could be determined by comparing it to similar homes in the area that have recently sold. If homes with similar features and sizes have sold for around $300,000, the value of the house in question might be estimated at a similar price.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
In the land where real estate stands,
Value's found by many hands.
Location, size, and features, too,
All combine to find the value that's true.