How do I find out what my house is worth? 

It amazes me how people determine what their property is worth.  I recently had someone call and tell me that they wanted to list their house and they gave me a price.  I told them that I did not think it was worth that much and they told me how they got to that price.

They drove around Hilton Head Island and looked at other properties that were similar to theirs that were currently on the market.  They did not go inside them, but by looking at them they were able to get a good idea of what they felt like their house was worth. 

Tha t might be a way to do it, but basically you are comparing your house to other homes that have not sold. 

The most effective way to get a true idea of the value of your property is to compare your home to properties similar to yours that have sold and closed in the last six months. 

This is a much more effective way because these properties have actually passed the test. 

It amazes me that people will take an overpriced listing that has 0% chance of selling and think that their property is worth more than that.  It may be, but their base number is incorrect because you are using a price of a property that will not sell.

In a slow market, you have to be extremely accurate in trying to determine the value of your property because purchasers are so picky and they are looking at all the different options.  Because of Internet access, everybody knows their options.