Questions on finding property value

[Jared G.]

Let's say there's a property I'm interested in and I want to know what it should be valued at. Point blank: how do I know? What I have heard and read is compare it to similar properties in the same area that have been sold recently. Where do I find this information? I know that Zillow, Trulia, etc. are NOT accurate for knowing the property's value -- but what about already sold ones? 

If the comparable properties have small differences (number of rooms, square footage), how do I know how much to take off or add on to my potential price?

Assume that I am not ready to buy and am only doing this to get a feel for a neighborhood -- would it still make sense to contact a realtor? Can any of this be done accurately without one? I don't want to waste their time when I have no intention on buying for a while.

What else do I need to know?

[Jason D.]

@Jared G. Zillow, trulia, realtor.com are all good at finding comps. Their "estimates" of value are unreliable, but you can see sold properties and that's what you need to use. Now say you are trying to find the value of a property that is 1000 sqft. and you see a similar property (same bed and bath, same types of finishes) that is 1100 sqft. Look at the price per square ft. and use that as your comp. So if it sold for $110k, or $100 per square ft, chances are, your 1000 sqft property is worth about $100k. I, personally, dont use properties with different bed and bath combos for comps, because there are enough sold properties to get good comparables. A good real estate agent can probably give good insight on that.