A:
You have several ways to determine the value of a home.
An appraisal
is a professional estimate of a property's market value, based
on recent sales of comparable properties, location, square footage
and construction quality. This service varies in cost depending
on the price of the home. On average, an appraisal costs about
$300 for a $250,000 house.
A comparative
market analysis is an informal estimate of market value performed
by a real estate agent based on similar sales and property attributes.
Most agents offer free analyses in the hopes of winning your business.
You also can
get a comparable sales report for a fee from private companies
that specialize in real estate data. You also can find comparable
sales information available on various real estate Internet sites.
