orhood using recent sales from that neighborhood or a competing neighborhood. If the homes are going at certain price, you might be lucky to get a house in that range or even lower.

The place where a home is situated will determine its value apart from the shape that it is in. If the neighbors do not take good care of their homes as well as land, it will affect the value of the home that you want to buy. You will clearly be hesitant to buy a good house that is surrounded by other houses that are not in good shape. Or if you buy such a house, you will negotiate to get it at a much lower price.

Another thing the appraiser will need to check in a neighborhood where you are interested in buying a home is the security status of that area. Before you a buy a home, make a point of visiting the local administration police station to check the security status of the area. If there is a high prevalence of criminal cases, you might want to consider carefully the decision to buy a house especially for investment purposes in that area.

Article Source: http://EzineArticles.com/7740176