Where do I look for the prices of homes in my neighborhood?

Thank you. Colleen.

Asked by colie.k301

2 Answers

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Answered by David Skow, Mortgage BrokerPRO+ in Seattle , WA
Colleen- are you looking for homes that are for sale? Or ones that recently closed? Or something else? Some great mainstream sites you can use are redfin.com and Zillow.com to search a bit ...another idea is to contact a realtor in the area if you are after specific information that these sites cant provide | 12.11.15 @ 21:13
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$commenter.renderDisplayableName() — {comment} | 12.09.16 @ 19:38
Answered by James L Roberts, Independant Consultant in Lake Worth, FL
This question would be a lot more effective if we know the reasoning behind it. As David Skow stated you can use mainstream sites online that are free, and in addition to revealing the asking prices for homes currently on the market in your neighborhood, they will also tell you the sale price. If you want a detailed list you will need to use a broker with access to the MLS system.
Note that the asking price and the sale price are two different things. Few people really know how to value homes, and that sellers and buyers value homes differently. In addition to David's suggestion, which I agree with, I recommend checking with your local tax appraiser's office and check the tax appraisal prices on both the land and the building. I would also check the Fair Market Rental Value (FMRV) in your neighborhood as well. If a mortgage is going to cost you more than what you would pay in rent you may want to rethink your decision.
The most common issue in the real estate market are sellers trying to price and sell sentiment. It is hard to sell sentimental value in homes, buyers may not have a sentimental investment in the home therefore the home is not worth as much to the buyer as it is to the seller. I hope this helps and if you have any other questions feel free to ask. | 12.15.15 @ 22:46
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$commenter.renderDisplayableName() — {comment} | 12.09.16 @ 19:38
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