In the current market situation, figuring out the value of a property is very difficult. Comparable sales method is the most common method used to determine the value of single-family homes, condominiums and rental buildings.
You can even research about the sold properties of your area on local government websites. There are many online databases which allow you to check the price of properties within a specific area. They have complete details about the properties including square footage.
Several free websites also offer property data but the information would be less when compared to paid sites. Certain websites offer computer-generated valuation called automated valuation models which aggregate sales data. Local MLS are the most useful computer database for getting information about comparable properties. This database provides complete information about comparable properties and this data will not be available through other sources and these MLS aren't accessible to the general public.
There are many factors which has to be considered when evaluating a residential property but the key factors are location, size and the number of bedrooms and bathrooms.
You can even research about the sold properties of your area on local government websites. There are many online databases which allow you to check the price of properties within a specific area. They have complete details about the properties including square footage.
Several free websites also offer property data but the information would be less when compared to paid sites. Certain websites offer computer-generated valuation called automated valuation models which aggregate sales data. Local MLS are the most useful computer database for getting information about comparable properties. This database provides complete information about comparable properties and this data will not be available through other sources and these MLS aren't accessible to the general public.
There are many factors which has to be considered when evaluating a residential property but the key factors are location, size and the number of bedrooms and bathrooms.
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