How much is your last deal worth in the mls?

[Leo Don]

Hello BP,

Before we reminisce this year accomplishments, just wanted to ask a quick questions. 

I would like to know how much is the house worth that I'm thinking bout putting a offer in? Like is there a website that people has used that seem to be accurate to determine the value of the house? Also is there anyways I can find out how much the property was appraised when purchase by the current owner? 

I would really appreciate any inputs! 

Happy new year!

[Christopher Brainard]

Originally posted by @Leo Don:

Hello BP,

Before we reminisce this year accomplishments, just wanted to ask a quick questions. 

I would like to know how much is the house worth that I'm thinking bout putting a offer in? Like is there a website that people has used that seem to be accurate to determine the value of the house? Also is there anyways I can find out how much the property was appraised when purchase by the current owner? 

I would really appreciate any inputs! 

Happy new year!

The best way to determine the value of the home is to ask a real estate agent for a comparative market analysis. The agent will provide you with a list of recent sales of similar homes, which help you extrapolate what your home would be worth. Zillow is not accurate and should never be used to base an offer on - It can be +/- 30%.

The past appraisal is of no value to you for two reasons. First, it was done in the past. Real Estate values change daily and you need the most recent information to property evaluate the market. The second reason is that appraisals aren't accurate either - while they are generally done by a 3rd party, they almost always come in where the offer on the house is or the target for refinancing. Unless you're way off base, the appraisal more or less agrees with the value that you want.

-Christopher