Homeowners considering putting their house on the market often make a final decision based on the appraised value of their home. Some are pleasantly 
surprised with the results and inspired to list while others find themselves disappointed and opt to put off selling until the market is in better shape.
Part of the reason this happens is that websites like Zillow.com can give homeowners a false idea (either way) of what their home is worth. Zillow uses the term “Zestimate” for a reason! Yet too many users compose a list of comps online and calculate their home value inaccurately, taking estimates as fact.
Have you ever wondered how appraisers and real estate agents come up with a price tag for your property?
Obvious factors include square footage, age and quality of materials and comps, but there are other dynamics that also come into play, says Key West Luxury Realtor Scott Forman. For example, choosing the time of year you sell may actually vary the price you are able to ask for your house. Key West is an obvious example of that dynamic, Forman says: “Generally, we have more buyers during the colder season, and more buyers means higher prices.”
Here are 5 more obscure factors that influence the value of your home.
1. Welcome to the Neighborhood
City council finances, the local business community and many other investments can affect the perception of a neighborhood. Your home’s value will increase 
when the neighborhood is at a high in investment and is perceived by outsiders as being safe and/or trendy. Conversely, a negative perception of your area will drive house prices down.
Look around your neighborhood for upscale restaurants, cafes and grocery stores. Popular cafes and well frequented stores suggest a positive influence on your house pricing.
2. Back to School
Whether or not you have school aged children, take a look at the school district you are in. The more prestigious the schools, the greater the asking price for your home. Being in a school district with low graduation rates will adversely affect your property value.
3. Shared Facilities
Take a look around your neighborhood. What shared facilities does it have? Are there parks, beaches or community centers? Do you have access to public transport? What condition are the facilities in and who is making use of them?
If they are safe, well-kept and being utilized by a desirable element in society, this would indicate an increase in the value of your home. On the other hand, if they are run down and/or frequented by thugs, you may be looking at a decrease in your house price.
4. Mother Nature
Never try to sell your home immediately after a natural disaster. Even if your home withstood a hurricane and took little damage, the perception of buyers will be that the area is unsafe and it will drive down your home’s value.
If you live in an area that is occasionally subject to hurricanes, floods, forest fires or earthquakes, wait for a year or so after a major event before putting your home on the market.
5. Economic Rumblings
No matter what home or community improvements you may enact, at the end of the day the truth remains that your home is only worth what someone is willing to pay for it.
Take a look at the state of the economy before you decide to sell. If the job market appears healthy and people have money in their pockets, your home is more likely to sell for its asking price. The tighter your potential buyers’ budgets are, the more likely they will attempt to negotiate down the price.
At the end of the day, accurately determining the value of your home is a complex process. Doing a thorough DIY assessment can give you a good idea of what you might fetch for your property, but hiring a real estate professional prior to listing will almost always leave you better off in the end financially.
