Home Values

Neighborhood Research

I may surprise you here when it comes to choosing home values for your property, using neighborhood research. Although I don't recommend this method solely to establish values, I do encourage you to do the research.

It is a great idea to view as many open houses in your neighborhood and also comparative areas of your town, city, or county.

Try to view as many as possible to see what the competition is. You can also use this time to practice Finding a Realtor should you ever need one, but lets stick to the home values for now.

One thing to note here. Try to make sure the homes are in the same ballpark as your own.

There is no value in looking at a property that is on the market for $950,000 or for that matter, $115,000 if your property will be in the $250,000 - 350,000 range.

Try to be objective. Compare the square footage, age, number of bedrooms, baths, levels, extras, general condition, lot size plus whatever else you can use to compare with your own property.

If there is feature sheets available at the open house, take one with you.

You will be able to compare your home with others and probably establish fairly close property market values for yours.

You want to compare several homes if available, to get the overall picture. One home could be just over or under priced.

Side Note: When you have put your own home up for sale, it is a good idea to do this exercise again, so you know your competition.

Would we use this method for our final home selling price No, but it's a great start.

For More Information
on Pricing Your House

The Throw a Dart Method

Using Realtors and the CMA

Certified House Appraisals

Final Decision - Asking Price

Pricing - Main Page

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