Sold ! 0 Report post Posted August 20, 2004 Where do you guys find info on comparable sales? Is there a website that keeps up to date and accurate? Do you bother a realtor every deal? What's everybody's favorite and most effective method here? Thanks, Sold ! Share this post Link to post Share on other sites
-Tony- 0 Report post Posted August 20, 2004 these were just re-posted by Kim less than a week agobut try fargo and BoA Share this post Link to post Share on other sites
MichaelC 160 Report post Posted August 21, 2004 Online services that charge a fee are another source of info. My favorite is Data Quick. They are pretty much the industry standard for this sort of thing. For $9.95, you simply type in the address of the subject property, and in about a minute you'll have in your email a detailed report that will break down the cost of the property to dollar per square foot, plus a whole lot more of info, too. When in doubt, I use them. Share this post Link to post Share on other sites
puls1234 0 Report post Posted August 21, 2004 Michael, At $9.95 a pop that could get kind of expensive if you are dealing with multiple homes each week...... I guess as a last alternative..... Pete Share this post Link to post Share on other sites
MichaelC 160 Report post Posted August 21, 2004 Michael, At $9.95 a pop that could get kind of expensive if you are dealing with multiple homes each week...... I guess as a last alternative..... PeteNot really, Pete. First of all, if you are doing any kind of volume with Data Quick, they will cut you a monthly rate that drops the price per comp considerably.Also, I don't do this for every property on a whim. I need to know we have a deal for the most part. I'm just looking to fine tune the numbers involved if I have any doubts. So it's not as if every homeowner I speak to who says, "Yeah, I might be interested in something like that", is going to send me running for comps. Rather, I'm hearing from the seller they are in, and now I need to know with accuracy the numbers involved. Share this post Link to post Share on other sites
JuanaH 0 Report post Posted August 22, 2004 Sold! Can't you look through the US Census buraeu for information? I went to a RE seminar and was offered that as an idea once. Juana Share this post Link to post Share on other sites
Kimberly 0 Report post Posted August 22, 2004 JuanaH, Can't you look through the US Census buraeu for information? I went to a RE seminar and was offered that as an idea once. First, I wouldn't think the Census Bureau info you'd be allowed to see would be that current. I don't even know for sure if that is information they track. And, if they do track that information, how do they get the info, i.e., is it strictly from sold homes, or is it what homeowners have reported they think their house is worth?* Fair Market Value/Current Market Value is most easily defined as what a buyer is willing to pay. The easiest way to 'guestimate' that number is to see how much similiar houses have recently sold for AND how much similiar houses are being offered for. Obviously, when figuring out FMV more weight goes to the recently solds than the current for sales. The easiest free way for a quick search would be the Bank of America site and the Wells Fargo Site listed above. DataQuick is a good 'fee' service that is used by lots of investors. Another way to get the information would be from a friendly Realtor, but that way would only be as good as the Realtor is skilled at running comps! Kim *Just this week I saw a house that the homeowner "believes" to be worth $185k. The entire neighborhood, there are lots of houses for sale in that neighborhood, of relatively similar floor plans, sf, same builder, etc. will comp out $150-157k. Share this post Link to post Share on other sites
JuanaH 0 Report post Posted August 22, 2004 Thanks kimberly, The seminar I went to was one for the Robert Allen millionaire challenge. He gave alot of information and I remembered he said something about the census buraeu as a source of information. I will be checking out those websites that were suggested. Thanks, Juana Share this post Link to post Share on other sites
grannyguru 0 Report post Posted August 23, 2004 Hi! I've found the Yahoo site to be more accurate.... at least in my area... which surprised me. http://realestate.yahoo.com/re/homevalues But then I think the best way to arrive at a good comp is to check more than one source... So I've added the yahoo site above. Isn't this a great forum?! People here are so very helpful. Kimberly has been really helpful recently! Thanks, Kimberly!! Alice Share this post Link to post Share on other sites
