Price, Value & Affordability –What You Need to Know
These words do not mean the same, they are related but they refer to very different aspects of the real estate transaction, or any transaction for that matter. Price is simply the amount in dollars that a piece of real estate is being sold for. Price by itself usually does not mean much, example: I am selling you this pen for $50 dollars. Value, on the other hand, is the relative worth to you or others of a particular good, service or piece of real estate. Value & price are not proportional, meaning the increase of one does not necessarily...
