How to determine if property is above or below market value?

[Robert Flores]

Which tool I could used to check this? I am new to this and trying my best to learn everything I could to land my first investment.

Thank you  advance for your time.

[Eliott Elias]

Have a realtor run a CMA (cumulative market analysis) on your property. Don't use Zillow

[Dwayne Poster]

Quote from @Robert Flores:

Which tool I could used to check this? I am new to this and trying my best to learn everything I could to land my first investment.

Thank you  advance for your time.

Your best tool is a Realtor familiar with the neighbourhood of interest. You should however evaluate and compare all resources to build confidence in any pricing arena.

[Kevin Manafi]

Hi @Robert Flores,

Easiest way to do this is by working with a real estate agent if you are not already. Your agent should have the local market knowledge to know which properties are at, above, or below market value; if they don't know off the top of their heads, they have the ability to run comps for you ("comps" are comparable properties similar to the one you are looking at). As you become more familiar with real estate, you will also learn how to run comps so that you can quickly and easily determine a property's market value. Since you don't have MLS access, you can use sites like Zillow, Realtor.com, Redfin, etc. and search for comparable properties to the one you are looking at that sold in the last 3-6 months with a similar layout, bed/bath count, sq. footage, etc.

[Robert Flores]

Quote from @Eliott Elias:

Have a realtor run a CMA (cumulative market analysis) on your property. Don't use Zillow

 Thanks for the input, Elliot! I will ask my realtor.

[Robert Flores]

Quote from @Dwayne Poster:

Quote from @Robert Flores:

Which tool I could used to check this? I am new to this and trying my best to learn everything I could to land my first investment.

Thank you  advance for your time.

Your best tool is a Realtor familiar with the neighbourhood of interest. You should however evaluate and compare all resources to build confidence in any pricing arena.

 Thanks, Dwayne! based on most responses, it looks like my realtor is the best person to ask for the comparable.

[Robert Flores]

Quote from @Kevin Manafi:

Hi @Robert Flores,

Easiest way to do this is by working with a real estate agent if you are not already. Your agent should have the local market knowledge to know which properties are at, above, or below market value; if they don't know off the top of their heads, they have the ability to run comps for you ("comps" are comparable properties similar to the one you are looking at). As you become more familiar with real estate, you will also learn how to run comps so that you can quickly and easily determine a property's market value. Since you don't have MLS access, you can use sites like Zillow, Realtor.com, Redfin, etc. and search for comparable properties to the one you are looking at that sold in the last 3-6 months with a similar layout, bed/bath count, sq. footage, etc.

 Very detailed input, Kevin. Thank you. I appreciate that. I will talk to my realtor and see his numbers :)