Discount Real Estate Fees!
Treat others with kindness!

Understanding pricing and values

Step 6 - Understanding pricing and values

To understand the value of a property, a buyer must study the local real estate market. If you are newly relocating to an area, there is plenty of research you can do before you buy.

Talk to neighbors, appraisers, assessors and real estate agents. Visit websites or hire an independent appraiser. Learn about the local economy. Talk with city officials, business owners and university professors. Try to get a feel for what is happening around town. View properties and neighborhoods and make your own valid comparisons.

Prices are always fluctuating, but the more people you talk to, the better sense you will have for how the local economy is performing. Pay close attention to employment rates, interest rates, property taxes, residential and commercial property development and local supply and demand. These factors will tell you a lot about whether the market is expanding or contracting.

Finally, utilize our Property Scorecard and Comparable Market Analysis forms to draw your own conclusion. Your final conclusion about pricing should be based on the results of your market research, your motivation to buy and the current supply of properties available in your marketplace.

Next Step