For Sale By Owner – 7 Ways to Determine Market Value

1. Appraiser – Hire a Real Estate Appraiser, you can find a local
professional from the website of The Appraisal Institute. It is an international
membership association of professional real estate appraisers, with more than
18,000 members and 99 chapters throughout the United States, Canada and abroad.
Its mission is to support and advance its members as the choice for real estate
solutions and uphold professional credentials, standards of professional
practice and ethics consistent with the public good.

2. Bank of America – Has an online service available for FREE on
their webpage. Check it out easy to use enter your address and zip code press
enter and there are the numbers. http://realestatecenter.bankofamerica.com/RePortal/Homepage.aspx

3. Real Estate Agents – Only the cutting edge internet savvy
Realtors have an on line FREE Over-The-Net home evaluation service. Some try to
send you off to pay services, if your going to pay anyone it should be an
Appraiser.

4. Legal Business Newspaper – Every city and county has a Legal
Business Newspaper that it uses for all public legal announcements. They also
publish foreclosures, divorces, Judgments and Property Transfers. Larger papers
have on-line services and keep archives.

5. Tax Records – City and County Tax records show all property
ownership and transfers. They show when a property was sold and for how much. It
also shows the recent appraisal information used to compute the tax. Online some
have been updated to show photos of the property.

6. Multiple Listing Service – You can directly access the MLS to see
at what prices homes are listed. This does not give you true market value but
gives you a reference to where it may be going, up, flat, down.

7. Realtor.com – the premier real estate web site more people by far
use Realtor.com to get information on residential real estate. It has the same
information as the MLS but usually has more photos and is usually easier to
navigate.

I have left off the most obvious which is to have a real estate agent come
out and prepare a CMA (comparable market analysis), don’t believe that all
real estate agents are equal. Do this only if you are not sure if you will
actually try to sell on your own. It’s kind of slimy to have someone do work
for you, with you knowing your not going to work with them.

Bill Carey offers insights to the buying and selling process of residential
real estate for F*R*E*E information and reports see http://www.BillCareyRealtor.com
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