If you're not working with an agent, then I would be happy to help you through the process..
I am local to the Milford area, so please let me know if you need help with Zillow or something else.
I think using the term "true value" is not the best way to look at buying a home - a home is only worth what the buyer is willing to pay given current market conditions - I prefer the term "current market price". The best way forward is to interview several agents and find one that you are comfortable working with and who can provide you with comprehensive information as to what the market will bear in regards to pricing.
For example if you have two 3 bedroom 1 bath homes, you would compare them by condition and style and add or take away for that, or if one had a fireplace you would add value to the house with the fireplace and so on. Updated homes usually get extra value over outdated homes or homes that need fixing up. The homes should be near each other as well. It is possible to add or deduct value depending on the location of the home.
Many factors come into play.
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Atlanta Real Estate Agent
Keller Williams Realty Consultants â€“ Roswell, Georgia
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A homes "true" value is what it sells for... This would be called the "Market Price" and can only be determined after a successful offer, acceptance and closed sale is made. The market is what drives the price.
However, in order to determine the best price to offer when looking to purchase a home, you need someone who is qualified and trained in real estate to do a market analysis or determine the comparable values in the neighborhood. This is called the "Market Value" A licensed Realtor can do a CMA or Competitive Market Analysis, or an Appraiser can do an Appraisal for you. The appraiser will charge a fee and the Realtor if they are representing you, will do this as part of their service to you. This is the most accurate and "best" way to determine the homes true value when making an offer as a buyer.
Remember, as a Buyers Agent, the Realtor is representing you and your best interest. If I can be of any further service or if you would like a referral to a qualified Realtor near you, please don't hesitate to give me a call anytime or visit my website: http://www.MyMilfordNeighborhood.info
Best of luck to you.
Tim Denbo, CDPE
Certified Distressed Property Expert
Keller Williams Realty
Consult with your ral estate professional. They will be able to provide you with comparison information for recently sold homes that are similar to your target home.
The best way to arrive at a true reflection of a homes true current value is to analyze recent sales.