Determining at what price to make an offer to purchase is equally challenging. Your objective as a property owner is to sell your property at the highest possible price. As a buyer your objective is the polar opposite.
Any product is only worth what a buyer is willing to pay.
The resultant range of value should establish high and low realistic selling prices. In this case it is most important to see what your competition is asking for their properties. It is not enough to look only at properties in the immediate neighborhood. In general asking prices are higher than actual selling prices. It is important to price your property as close to fair market value as possible from the outset.