How do you figure out the fair market value of a house?How do you figure out the fair market value of a house? Definitely, it will vary from location to location. I am curious about the math that goes behind the process!My subject is in Williamson/Travis County, Austin, TX. Is the approach below logical? Will it work? I go to the appraisal site first The value of the house will be equal to 80% of the market price Then we bring it down from thereA real life example: 2008 Appraised value $223,500, for a 3-bed/2.5-bath/2-car-garrage 2,300 sq-ft two storied, built in November 2004 by D.R. Horton. Sold 03/02/2005: $189,500What should be the estimated fair market price of this house in Avery Ranch?April 22 2009 - North Austin11YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.