Methods for finding market value of a property
There are many methods used to find the market value of a property. Some are preferable to others, especially in distinct areas. In other instances it is best to mix up three methods and compare the prices thereof.
As a newbie investor I have begun to use Zillow, but it doesn't seem to be reliable. Some studies show half of the properties can be off by 5% in market value! I have mixed opinions about the county appraiser's value listed on their website because the market value of a property seems too different than what some investors are looking to buy/sell that property for.
What are your preferred methods for finding the market value of a property?
Most Popular Reply
Zillow zestimate is crap. The recently solds on Zillow will give you a decent idea to comp the property so long as you're doing apples to apples for type of house, beds, baths, sqft, etc... I always do this first and then if I've got a good deal I ask a realtor friend to confirm my numbers.