If you are planning on buying a house in the near future you will need to know the value of the home you decide to make an offer on. So many times people just think that the home they are interested in is worth the asking price, but you couldn’t be more wrong. The fact is that many homes are not worth the mortgage that new buyers have to pay back. Many times the bank will send an appraiser out to a home to make sure the home is worth the money for the mortgage, but the problem is that they send appraisers that really don’t have a clue.
Before making an offer for the home make sure you know how much it is worth. So how do you know how much a home is worth? Simple, the home is worth what someone will pay for it. The best way to know the true value of a home is to look at the historical market appraisal sales for it and others like it in the near vicinity. You want to look for recent sales of homes that are like the one you want. There are several websites that offer historical sales data by street address. This data comes from public records of sold homes. The key point is that the data is of the actual sales price and not the listed price.
Most of the free property appraisal services online will have you complete a short form about your property and within seconds give you recent sales in the area and an estimate of the homes value.