Finding Your Home Market Value

It is important that you know what a property is worth so that you can negotiate with the Seller/Bank.
There are many different ways to determine the approximate value of a property.
If the value of the property is close to what is owed on the property you will have to obtain a short sale in order to purchase the property.
The property values in Florida are changing daily like many other States.
Knowing the condition of your market whether you are in a hot market, down market, slow market or fast market is an important factor.
The true value of the property comes into consideration when dealing with the Mortgage Companies.
Below is a list of ways that you can determine the value of the property.
Please note that when considering comparable on the property you will need to look at houses that sold within 1 mile radius or less with no more than a sale date of 6 months back from the date you are analyzing the property.

Multiple Listing Services (MLS):
Having access to the Multiple Listing Services is a great way to determine the true value of the property.
You should build rapport with a Realtor so that you can have access to the MLS if you are not a Realtor yourself.

Property Appraisers Office:
This information you would obtain from your Property Appraisers Office, in the County which the subject property is located.
Usually you can find this information on the internet.
When on your Property Appraisers website, look up the subject address and search for comparable sales in the neighborhood.

Zillow:
This information you would obtain from www.zillow.com. In the search field, on the website, type in the address of the subject property.
It is OK if you do not have the zip code but it will probably work better if you did. Click on GO. It will pull up an aerial of the house.
Click on the COMPARABLES link to pull up a list of comps. Look at every property that sold within the last 6 months.

Bank of America:
This information would be obtained from the Bank of America. Go online to the following website: http://bankofamerica.cyberhomes.com. Type in the address of the subject property, properties near your subject will appear.

Come join me in Orlando, Fl August 28-30, 2009
for my 3 Days Live Short Sales Training Event!
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To Your Success,
Hunter Paschall
407-772-2274