Ask a real estate agent what are the three most important factors affecting the value of a house and the answer you will get is "location, location, location". In fact, although location is the main factor, there are two further matters that will affect the selling price. These are condition and amenities. Naturally a house that is in a poor state of repair will fetch a lower price. Equally a property that has amenities not found in other houses nearby will be more desirable.

So if you are thinking about selling your home and planning to handle the sale yourself, how do you go about setting the asking price? As with most things you can either do it yourself or pay someone else to do it for you.

The basic method for establishing the value of a house is to compare it with similar properties in the area. This is a task that you can undertake youself. Provided that you are able to find a number of similar properties, you should end up with a fair idea of the current value of your home. It is important to note that you should make sure that the figures which you are using for comparison are for houses that have been sold and not merely asking prices, or you may get a false impression.

If you would prefer to engage someone to advise you, you have a number of alternatives. There are several online services with prices ranging from free to hundreds of dollars.

HomeGain.com offers a free service if you enter your address and zip code, but if you do so, you discover that you then have to complete a pagefull of personal details which will then be passed to a local agent.

HomeSmartReports.com is a computerized system "Using mathematical and statistical models, neighborhood sales activity is analyzed and compared to your home to reach a value estimate in less than one minute" at a cost of $24.95.

ElectronicAppraiser.com is a similar system which provides a range of reports. The complete property valuation costs $29.95 but there are less detailed reports starting at $4.95.

Finally you can have a valution carried out by a professional appraiser. Depending on the type of report you require, this will cost anywhere from $60 up to $400.

This article has outlined the different ways that you can obtain an indication of the current value of your home. You will need to decide which approach is best suited to your requirements.