Study recent sales in your area. You need to know what people have paid for homes similar to yours in the neighborhood. The city assessor's office keeps these records and most local newspapers publish real estate transactions.
Collect statistical information on properties in your neighborhood. Location plays a huge role in what your property is worth. Foreclosures, rental properties and the presence of sexual predators in your immediate area can impact your home's value.
Look around for commercial and industrial activity. According to realestate.com, a home near a landfill sees its value decrease between 6 and 10 percent. Power plants also decrease your home's value. Proximity to open spaces and public parks drives the value up.
Check your school district performance. The desirability of schools in your neighborhood elevates or diminishes property values.
Measure the square footage of your home and the land it's on. Size matters when it comes to your home's value.
Make a list of improvements you've made to your home. You usually get a good return on investment upgrading kitchens and bathrooms. Even new windows or an updated deck can add value.
Visit your local tax collector or property assessor's office or log onto their websites. Take a look at the value the government attaches to your home. Most cities and towns assess properties annually.
Do the math. Adjust the number that comparable homes have sold for according to what you learned about your location, neighborhood and the condition of your home.
Establish a range to work with instead of an exact number. Real estate values fluctuate according to market conditions and they're often subjective. Instead of establishing your home's value at $279,000, you can put it at between $275,000 and $280,000.