Comparable Home Prices
Help for Buying and Selling a Home

Before I share with you how to find comparable home prices, I'm wondering if you've asked these two questions about buying and selling a home.

• I'm hoping for a good deal so how much should I offer for that house?
• I don't want to give away my home but where do I find how much it's worth?

Questions such as these are common among home buyers and sellers alike. After all we are talking about where we come home to rest after a hard day at work. Where we raise our children and entertain our neighbors. But most of all, we invest significant time and money into our homes.

So knowing how to find comparable home prices is essential to deciding where to set home selling prices or how much to offer if you are buying.

As you read the following article, you will discover the secrets of the real estate savvy who understand comparable home prices lead to the best deals. Enjoy!

How Willing Buyers And Sellers Create Market Value

Here is a proverb used to define the value of real estate: Value is what a willing buyer will pay a willing seller. But before we explore this, let me ask how you would go about determining the value of a house?

Searching For Comparable Home Prices

• Do you browse through real estate magazines?
• Have you tried collecting open house flyers?
• Or filling your in-box with emails of new listings?

Although satisfying to curiosity, mostly what you will end up with is general information. Why? Because none of the properties you are researching have been sold.

This brings us back to the proverb I already mentioned. Value is what a willing buyer will pay a willing seller. But I am going to take it a step further. In fact I say, "Value is what a willing buyer PAID a willing seller."

Realtors Understand Buying And Selling A Home

The best way to get on the inside track to knowing true value is to find a real estate agent. Realtors have access to a database of properties sold in your area and similar to your home. So whether you are seeking to sell or buy, the services of a real estate professional will save you time and effort as well as money.

Keep in mind, before you decide to list your home, you should ask your Realtor to prepare a market comparison for you. The same goes for searching for a house to buy.

Ask your real estate agent to provide comparable home prices. With your agent's assistance, you can then consider or make offers based on real time data instead of emotion.

Last but not least, never make or accept a quick offer based solely on excitement. Consult a Realtor and do your homework in advance.

Prime Real Estate Articles Tip No.49
Home Mortgage Application | Borrower Information Cont'd

Next, the home mortgage application asks for date of birth and years of school, both self-explanatory.

An applicant also checks "Married, Unmarried or Separated." Whether or not a homeowner is married can have an affect on ownership. So be prepared to include divorce decrees, separation agreements, orders of child support and property settlement agreements if applicable.

Understanding Mortgage Applications

Take the guided tour with Kate's unique tips for filling out your home mortgage application...

Coborrower | Responsibility | Loan Type | Appraisal | Rates/Terms | Address/Units | Legal Description | Year Built | Purpose | Usage | Construction | Refinance | Title 1 | Title 2 | Fee Simple | Down Payment | Name | SS Number | Phone Number | DOB/Education | Address | Employment | Income | Housing Expense | Assets | Liabilities | Real Estate Schedule | Transaction Details | Declarations | Acknowledgement | Government Monitoring | Application Interview

View FNMA 1003

First Time Home Buyer's Tips

How To Buy A House - Tips On Buying A Home

How To Refi - Tips On Refinancing A Mortgage

How To Get A Mortgage - Home Mortgage Help

Roadmap At Prime Real Estate Articles

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