Initially, you should contact a Realtor (R) to provide a comparative market analysis for you. Agents have many tools available to them in creating such a product for you and the Northern Kentucky MLS has recently contracted with Tax Realist, a company that provides not only ownership and tax records for properties but also has a program for creating a CMA (comparative market analysis). By entering the property address, the program will identify comparable properties based on land use (residential), type of property (single family vs condo) with variables entered such as 15% plus or minus square feet and within a certain number of miles of the location. The sales can be generated for any period of time the agent identifies. Given market conditions, however, it's best to stay within six months to get the most accurate picture of sales.
If you decide to make an offer, you should ensure that somewhere in the contract the language provides for you to be released from the contract with a full return of your earnest money if the property does not appraise for the price you have offered. If this isn't part of your agent's standard contract, it's a good idea to have it written in as a contingency.

The best way to determine a home's value is to research what similar homes in the area are selling for. Based on recent sales (and in this market, pending sales) you can adjust the price by similarities and differences in the homes. A realtor or an appraiser can help you determine an approximate value, but ultimately, a home is worth what someone is willing to pay for it.

There are a couple of options. You could hire a real estate agent or you could pay for an appraisal. Brokers generally seeks compensation from the sale. Meaning that in most cases the Seller is agreeing to pay the selling agency's fee. When an agent represents you they have the fiduciary duty to work for you in your best interest. Your agent should provide you with a CMA (Comparative Market Analysis) of the home to show you if what they are asking is fair market value. Then your agent can advise and negotiate on your behalf.

I would suggest that you ask your friends, family and coworkers if they would recommend a REALTOR to you and then interview them. Make sure you are confident that your REALTOR is working for you and interest should you want representation. Hope this helps. Good Luck!

Michelle L. Corey

One way to determine value is to get an appraisal. You can also go to your local PVA office to find out the taxable value of the property as well as what it has sold for in the past. A local Realtor could tell you what similiar properties have sold for. Hope that helps!

Mary is correct. The only way to find out the value is with an appraisal. Realtors/Agents can provide a suggested or estimated purchase price with a CMA based on what has sold and what is currently listed, but there is a lot more than that in determining the value.

quite honestly, the only way to obtain a true value is with an appraisal. If you are trying to find out what has sold in comparision to what you are looking at, then I would contact a real estate broker in your area. They will be able to search recently sold (like) properties and give you a good idea of value.