Okay, so you love that house. But just how much is your love worth? That's the question that faces every home buyer during any economic season.
 
 Sometimes the answer is easy. In hot markets, the answer can be short and sweet: If you have to ask, you can't afford it.  Not too long ago, in the sizzling markets of California, if you even took the time to ask, the property was already gone.

 Enter the cooler markets.  Today, most markets have a good supply of houses and buyers can take a little time to look for the right house at the right price and make a reasonable offer.
 
 Still, how you set the bid for your dream house matters.

 Real estate agents make it their business to know what houses sell in neighborhoods and for how much.  That's why asking a real estate agent for a neighborhood market assessment can be such a crucial step in setting your bid price.

 Agents will compare the sellers asking price to other homes in the area. Typically in volatile markets, agents will look at selling prices for homes in an area during a two to four month period. In stable markets, they might use a 12-month standard.

 Added to actual sale prices, you can consult Websites such as Zillow or Trullia for a general idea of pricing. Zillow, which does not list houses in every market, gives estimated values for individual properties. Trullia gives estimated home values for neighborhoods. The problem is that no computerized estimate can tell you about the charm of a home ­- or how motivated a seller is.

 You can also consider the home's tax assessment. But this is very often nothing like the whole story since low assessments are rarely challenged.

 Even knowing what the seller paid for a home doesn't tell you much about current property values. It might, however, tell you something about how much equity and emotional attachment the seller has to a home.

 Sometimes hiring an appraiser can give home buyers a little comfort since buyers can insist that the house appraise for the asking price.

 Nonetheless, even in cool markets, an insultingly low bid on a great house will probably not get you into your dream home since, whether there is a buyer or not, a charming home is still valuable and is worth holding for the right buyer.

 Best case: Do your research and trust your real estate expert's analysis.

If you're considering a purchase. we know and understand our local market.  Give us a call today at (772) 323-6996 or visit us on the web at www.GabeSanders.com or www.TreasureCoastFLHomes.com. Our office is located at 2 N. Sewalls Point Rd. in Stuart, Florida (Sewall's Point); please ask for Gabe Sanders or Susan Maxwell.