Posted by Stacy (AZ) on May 05, 1999 at 23:53:57:
Hi Lonnie-
I think it would be better to find the rep nearest you from the web page I gave above, and ask for the same deal that a friend of yours got. That way, if you happen to need support, they’ll be within your reach. But, if you want to contact my local rep (Phoenix), here’s the info:
Carol Stroud
First American Real Estate Solutions
(602) 314-1443
Good luck-
Stacy
First American RE Services “Comps” Data Base - Posted by Stacy (AZ)
Posted by Stacy (AZ) on May 03, 1999 at 12:45:49:
I’ve just signed-up with First American Real Estate Services to receive monthly CDs of the Assessor’s database for my county of interest. I asked for and received a one month trial that will roll into an annual lease if I don’t cancel. Along with the monthly CDs, there’s an application program to do sophisticated searches.
I can think of several uses for this information…searching for out of state owners, farming neighborhoods, doing comps, etc. However, I’m interested in opinions from those using this service or one like it, that is limited to only tax assessor’s information.
Do you find that the comps generated from this data base are good enough to use for your REI activities, or do you find there’s still a need to have a realtor run comps for you from the MLS?
What types of searches do you perform on the data base…for what purposes?
Thanks in advance for your replies. I’d like to put the program through its paces before the 30 days is up.
Stacy
Re: First American RE Services “Comps” Data Base - Posted by Timo
Posted by Timo on May 04, 1999 at 12:58:50:
Stacy –
I operate a foreclosure listing service and I would buy FARES [Experian] before I would buy my service. The comps are excellent.
The Auto Comp feature is great, but I find myself doing neighborhood comp searches more and more.
You can search type of deed which allows you to get all the REOs. Here in California I search Trustee’s Deeds [the deed lenders take ownership under foreclosure here, I think they are the same in Arizona] more than two years old.
These are properties that
a)the lender doesn’t know he owns – shocking how much this happens.
or b) the lender can’t sell. I have had a lot of luck dealing direct with the lender on these 'cause they are usually not listed.
The 6% the lender saves can become 5% in my pocket.
Get First American, it is the way to go.
Timo
PS I have tried Metroscan and DataQuick and I like this one the best…t
Re: First American RE Services “Comps” Data Base - Posted by HankM
Posted by HankM on May 03, 1999 at 17:34:10:
In addition to what others have said, I just used it to pull 600 out of state owners in my backyard for a mail drop. Works great. I like it even though it isn’t cheap for my area 2CD set for Cook IL. $200/month.
Re: First American RE Services “Comps” Data Base - Posted by Ben
Posted by Ben on May 03, 1999 at 14:34:12:
This used to be Experian. As a purchaser of tax liens, I use it all the time. Since we are buying a lien as opposed to the property, we need only know
cursory information such as assessed value, property
classification, (residential, commercial etc.),annual taxes, whether there is a mortgage on the property and how much.Great for the bare essentials bit I would not rely on it exclusively. Ben
Re: First American RE Services “Comps” Data Base - Posted by ScottE
Posted by ScottE on May 03, 1999 at 13:41:04:
Stacy,
How would I get a hold of First American to see if they service my area?
Thanks!
Scott
I’ve used it a bit. - Posted by Jack Z.
Posted by Jack Z. on May 03, 1999 at 13:15:08:
Dear Stacy,
About the First American data, I’ve used it as part of the data resources available to me in my commercial appraisal office. From what I can tell, it’s a great resource. It’s perfect for doing the things you mentioned, especially finding comps based upon your own parameters, and you can do some pretty neat searches with it, too. One function that seems particularly cool is the ability to not only find comps, but map them as well. I haven’t actually done that, but I saw it done in a demonstration, and it was impressive. What’s more, the data is updated every month by way of a new, mailed CD, so you can stay on top of things in your market.
As far as comparing it to MLS, I can’t say, because I’ve never used MLS. But it seems to me that the First American stuff is a great asset. Moreover, Ron LeGrand highly recommends a subscription to some sort of data service like that. It’s not cheap, but what is that’s valuable?
The best thing for you to do is to really see “what’s under the hood” for the next 30 days. Try it out, wear it out, and then fill us all in again on your findings.
Good luck.
Jack Z.
Re: First American RE Services “Comps” Data Base - Posted by Ken
Posted by Ken on May 03, 1999 at 21:41:12:
Great idea. I know Nationwide Real Estate offers a free service for all new investors looking to consult and partner jointly. Well worth it esp. with a company with an excellent record with the Attorney General and Chamber of Commerce.
Re: First American RE Services “Comps” Data Base - Posted by Stacy (AZ)
Posted by Stacy (AZ) on May 03, 1999 at 17:37:56:
Thanks, Hank. Have you used it for comps? If so, do you find it accurate enough for your purposes?
Stacy
the “Joe” deal . . . - Posted by Joe Kaiser
Posted by Joe Kaiser on May 03, 1999 at 19:09:40:
My contact, Tammie Gilman, at First American Real Estate Services (formerly Experian) has come through with a pretty decent offer, $59 per month for online access to all 400 plus counties in their system.
That includes one hour of online time (additional minutes are billed at $2.30 per), but you build all your searches offline and online time is spent simply downloading the info. The hour should be more than sufficient for most.
Additionally, they’ve agreed to waive the mandatory $250 sign up fee and give us their software absolutely free!
Not a bad deal, and you can only get it from Tammie Gilman @ 1 206/282-8709. Leave a message and she’ll get back in touch with you on her dime. And don’t forget to mention “Joe’s Deal,” otherwise, you’ll pay the normal monthly rate and the $250 sign up fee.
Not good.
Give her a call and get yourself set-up (if you’re into that sort of thing . . . I know I am).
Re: First American RE Services “Comps” Data Base - Posted by Stacy (AZ)
Posted by Stacy (AZ) on May 03, 1999 at 13:56:19:
Hi, Scott,
Look them on the web, and call the office nearest you for more info:
http://www.firstam.com/faf/html/corpdir/html/mires.html
Good luck (and get ready for sticker-shock).
Stacy
You Guys at NW are giving me a headache!! - Posted by JohnB_NJ
Posted by JohnB_NJ on May 03, 1999 at 23:59:19:
Please do me a favor, all those advertising Nationwide. Please stop. I come here to learn not be bombarded with advertisements for your company. I have asked on numerous occasions for facts and I get no response! Show me the money!!!
Let me see some real deals with numbers and full addresses for verification! If you do not have any facts than please do me a favor, take your Nationwide hype somewhere else. Besides I have tried to email most of the people that post for NW and I get either no answer or the email bounces back because the address is bogus.
OK. nuf said. I can only ask. Please no more Nationwide plugs on this newsgroup.
Have a nice day.
Sincerely,
John
PS: please do not respond to this post!! If you have facts to post…please email me… If I verify your info (and I will check it out!) I will post what I discover without bias!
Re: First American RE Services “Comps” Data Base - Posted by HankM
Posted by HankM on May 03, 1999 at 17:46:43:
You know, I only use “comps” as a directional, not an absolute, but yes it does find recent sales and gives you all the relavent info. I use it mostly to identify owners of properties I’ve identified otherwise (abandond, vacant, ugly) to mail to. The mass mail thing is a new deal for me, but we’ll see how it goes.
The good thing is that unlike MLS, this gives you sale numbers, not listing numbers …
One other cool thing you can do with the program is define areas by drawing on a map, so if you don’t have an easy way to delineate what you’re looking for, you can put the boundries on a digital map and bang you’ve got your dataset. Kinda fun!
Hank
Thanks Joe! I’ll give her a call(nt) - Posted by ScottE
Posted by ScottE on May 03, 1999 at 23:02:33:
.
The sticker shock soap box - Posted by Arie Owed
Posted by Arie Owed on May 04, 1999 at 13:33:29:
Stacy –
Please let me comment on costs of this business. So many watch pennies and miss the point. If you ordered a data service I know this is not you but…
This is a business that each deal you do is going to make you 20K on 100K, big money in any ones book.
To do this business you need a few monthly expenses…
a fax machine and dedicated data line for your fax and computer. $60/mo
A car and gas to drive at least 2k miles a month
$600/mo @.30/mile
A comps service, if you are a Realtor MLS will work. If you are not a Realtor do not trust comps provided by title companies or Realtors. They usually have very Rosy glasses on. And it is impossible to get “fixer” comps. $80/mo
A foreclosure listing service. Don’t spend time at the county recorder you can spend talking to sellers.
$50/mo
A Direct Mail budget. This is the easiest way to reach the most sellers and it works. If it doesn’t work for you read a book on it, work a different lead source, weed your leads differently or take a seminar.
$120
continuing education. I shocks me on this site how many users think they can learn different techniques of this business one question at a time. So many of you don’t know what you don’t know. For us that do it, I believe in constant education, annually I see Jim Rohn and try to find books that update my efforts. Kevin Meyers and Bruce Norris taught me something this year. It is much better to get into the river with a paddle and a boat, if you know what I mean ;).$190/mo
So to do this full time out of your house you need to budget about $1100 monthly fixed. As you buy houses you will need additional capital to float them. Part time your costs will be less.
Sorry about Preaching, but hey this has been on my chest for awhile,
Arie O.
Schizophrenic - Posted by Bob, Ann, Jean, Bill, Tom, Frieda, Sally, George
Posted by Bob, Ann, Jean, Bill, Tom, Frieda, Sally, George on May 04, 1999 at 11:34:34:
All you guys advertising from Nationwide really means one idiot with multiple personalities. All the posts say the same thing. If there ever could have been any interest in Nationwide here they’ve totally convinced us that they are liars, immature, stupid and annoying. Glad they warned us against themselves.
Re: First American RE Services “Comps” Data Base - Posted by Stacy (AZ)
Posted by Stacy (AZ) on May 03, 1999 at 18:30:59:
I’m looking forward to trying it. It sounds great. You have to pay extra to get the mapping capability, right?
Keep us posted on the results of your mass mailing. Hope you get a few deals out of it.
Thanks again-
Stacy
A different FARES deal - Posted by Timo
Posted by Timo on May 04, 1999 at 13:10:52:
Scott –
If you only need one county of data don’t get the online deal, you will get eaten alive in charges. What I suggest is get First American’s CD Product. For a deal contact Kathy Arnold, (310)265-1788 and tell her The Wealth Institute referred you. She will give you $100 off the software and 20% off the CD data and if you ask real nice an hour or two of online time monthly [not part of the deal we agreed on].
The CD product is by county. So if you do deals in a lot of counties Joe’s is a better deal.
Timo
Re: Good Message, Wrong Guy - Posted by Stacy (AZ)
Posted by Stacy (AZ) on May 04, 1999 at 14:46:16:
Arie-
Good post, but wrong guy. I am happy to pay the cost of doing business, that’s why I signed the contract. As one who has bought several courses from this site, attended both CREOnline conventions (and others), and continues to pay monthly for various REI business expenses, I understand the need to spend money (prudently) to make money.
But, for those that haven’t realized it yet, your post should be an eye opener.
Stacy