When you decide to sell your house one of the first decisions you'll need to make is setting the price. If you wish your house to sell in a reasonable length of time you'll need to price the house at 'fair market value.' But what is 'fair market value'?

In general terms the 'fair market value' of a house is that price at which the house will less in less than about 90 days. Not very helpful is it? So let's get down to the nitty gritty.

People who determine the fair market value of real estate are called home appraisers. A good home appraiser will compare your house to very similar houses in the same or comparable neighborhoods. The appraiser will take note of the prices of the comparable houses and then make adjustments to determine the price of your house. Yours might get a higher appraisal if it is in better condition; it might get a lower appraisal. Learn more about how to choose a home aprraiser.

When selecting an appraiser be sure that he or she is licensed in your jurisdiction. The most common certifications are SRPA, SRA and MAI. Interview several appraisers to find one you are most comfortable with.