Real-Estate-InvestingWhile it’s easy to drive by real estate and estimate by looking how much a particular house might be worth, it’s much more effective to get the numbers you’re seeking.

This kind of data tells you whether you actually want to buy in a certain neighborhood or not.

If not, then you can keep searching to find a property that is more in line with your financial goals.

Helpful Property Value Tools

So how do you get a close value for the various types of homes? One of the great tools at OpenOffer.com helps you do just that and get figures for everything from a blank plot of land to a multi-family residence.

If you know the details of the building, then you can add in the number of bedrooms and bathrooms. The square footage will also be helpful as this helps determine the overall value.

One great feature about this portion of the site is that you can see properties based on how many days they have been on the market. Oftentimes, if a house has been available for sale for a while, it allows you to negotiate a better price.

While there could be a variety of reasons for this, most of the time, it works out in your financial favor.

Importance of Financial History

Once you know how much a particular house is worth, then you can take a look at its financial history. It should be very easy to check with the local county agencies to see how much the property taxes are at that location.

This will give you an idea of whether or not it has increased or decreased over the past years. If you see that the property taxes have decreased and the house seems to be sinking as well, find out why by talking to the current seller. Perhaps they can give you some insight before you make an offer on the property.

Make sure you do this before real estate deal so you have an idea of when to expect a return on your investment. If you know that the multi-family building is going to fill up right away with occupants, then perhaps a lower property value doesn’t matter that much. However, if you know that a house is going to take a little while to flip or rent out, then perhaps that low home value is a warning sign.

Support of Real Estate Professionals

Get some professional assistance with these decisions by talking with real estate experts. They can point you in the right direction and make sure your dollars work for you, rather than against you.

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This is filed under Home Buying.


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