Posted by Juana on September 21, 2004 at 10:52:37:
Nicole,
The information you are looking for can be attained by simply visiting the property. To do a comp you have to actually assess the property by going through it and determining what it would cost to fix if at all and what type of condition it is in…don’t you?
As far as NJ being a data poor state…I would have to agree. Some states have their information on line where you can easily research things but this state does not…at least my county does not.
Another question…when you say professional real estate data sources, do you mean real estate agents or online services?
Well anyway best of luck…go see those houses and get the info you are looking for.
Posted by Nicole on September 21, 2004 at 10:32:18:
To all NJ investors, at least those who take a glimpse at this message, do the NJ courthouses document the number of beds/baths for each residential property? After gathering many comps and talking to professional real estate data sources in the state of NJ, I was told that NJ is data poor and that I would not even be able to get information concerning the number of beds/baths at the municipal buildings. Is this true? I had decided to join the Union County public land records - a $600 annual fee - but if this bed/bath information is not available, I would be foolish to invest this money. I also have consulted with agents about receiving CMAs and I would certainly pay them for their ‘kindness.’ Yet, none of these agents have ever contacted me again. What other ways are there to get comps that display their number of beds/baths? Afterall, a comp cannot be a comp if I have no way of determining its number of bedrooms and bathrooms. This is the only struggle I must overcome. I have a birdog who gives me 3-4 houses every other day that could mean profit for me, however I’m being hindered by the lack of detailed information for comps. PLEASE HELP ME! How do you guys overcome this?