To determine the value of a piece of real estate, you can get an appraisal from a certified or licensed appraiser who will render their opinion of the property's market value. Appraisals are made based on a variety of principles, including supply and demand, increasing and decreasing returns, anticipation, and conformity. The appraiser often will take into consideration the features of the home, its condition inside and out, current market conditions, and recent sales of comparable properties.