Is there a way to find out the value of homes in your area?

Question

I want to find out what other homes in my area are worth, is there a website that can tell me, or does anyone know how I can get this kind of information?

Answer 1

If you just want a quick idea without contacting a Real Estate Agent, go to:

http://www.zillow.com

Answer 2

As a real estate investor I use a subscription service called ReaList but here is a web site that I have compared with my paid service and it appears fairly accurate most of the time.

http://www.realestate.com/homepricecheck

Keep in mind this value is based strictly on comps and it has no way of knowing the condition of the home, the property location, the sellers situation, etc. Use with caution.

Answer 3

If you talk to a realtor, they have access to a database of sales in your area. They can run a list of "comps", that is comparable sales which houses similiar in style, size, and neighborhood to yours. They will probably run you some comps if they think that they are competing for your business.

You may be able to get the assessed value from the Tax Collector in your county. It may be on paper or on the internet. Tax assessed values vary a lot and may not be reflective of market prices.