how do you find out how much a property is worth?

Sharmarie Libby
Home Seller
Meadville, PA

Answers (5)
Lynn911.com Dal...
Agent
Dallas, TX

Contact a real estate agent who can interview you determine all particulars involved to comp value of your home, based on sq. ft. , updates, area, # rooms, and much more

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter: http://twitter.com/Lynn911
Lynn911

http://www.lynn911.com

Sat Oct 3 2009, 14:04
Chino Hills Hom...
Agent
Chino Hills, CA

how do you find out how much a property is worth?

I would say it depends on what type of property it is? SFR or income property? If it's and income property I would say your best bet is an licensed appraiser if it's a single family resident and agent or appraiser could help you.

Fri Oct 2 2009, 18:33
Bill Eckler-Flo...
Agent
Venice, FL

A real estate professional can give you a general appreciation for a property's value with a free CMA. (comparative market analysis.)

Banks use the skills of a licensed appraiser to generate accurate value for properties. Appraisale can cost several hundred dollars.

Fri Oct 2 2009, 18:24
Terrence Charest
Agent
Willow Grove, PA

In addition to the previous response.

A real estate agent will find all of the similar homes which have sold in the same neighborhood or very near the home being "priced" within the past three to six months. Homes that are currently on the market or pending will give the Realtor and yourself an idea of how to price your home accordingly along with how quickly you need to sell.

Hope that helps,

Terrence Charest, e-Pro

Thu Oct 1 2009, 08:40
BenitoGarza....
Agent
Minneapolis, MN
FIRST ANSWER

Hi, there will be 3 ways to find an estimate of what a property will sell for/ it is worth.
BPO: Broker Price Opinion. A Realtor will research properties that are simliar to the subject to determine a price.

CMA: Comparative Market Analysis ( this name change state to state but it is the same). A Realtor will do similar to a BPO to find an estimate price.

Appraisal: This is done by an Appraiser with the same idea of comparables properties.

For comparables means, properties of the same style (ie: one story, two stories) bedrooms (3,4), bathrooms, car garage (even car garage style, atached, detached) and so on.

Thu Oct 1 2009, 06:55

Didn’t find what you were looking for? Ask a question!

Search Advice

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback