Posted by B Dixon on April 04, 2002 at 12:28:47:
I get this information by looking at the sold comps. There’s normally a difference between the list price and actual price the property sold at. One caveat though: Market values are subjective because a house is worth what someone will pay you for it.
transaction amounts - Posted by mf
Posted by mf on April 01, 2002 at 20:22:37:
How do I find out the transaction amt. of recently purchased properties. I kwow it can be found in the court house. I wat to kwow if it can be done thru the internet, title co. etc.
Re: transaction amounts - Posted by Ronald * Starr(in No CA)
Posted by Ronald * Starr(in No CA) on April 01, 2002 at 21:28:26:
MF------------
Who knows? You don’t tell us where you are, so we can’t possibly tell you whether that is available in your county or where to get it. Is is available in some states, not others. Some counties have information online, some don’t, even those in the same state.
You could try calling the assessor’s office and the recorders or clerks office and ask your questions of them. Also try the local title companies, some real estate brokers and agents, and ask local real estate investors.
Good InvestingRon Starr*****
Re: transaction amounts - Posted by marc (NJ)
Posted by marc (NJ) on April 02, 2002 at 06:16:01:
Ron thanks for the info Im a newbie to this with (2) deals in contract, closing this week,my efforts have been focused in the Atlantic co. Ocean co. areas of NJ.I’ve used realtors on these deals, but the more I read and learn about creative re the more convinced I am that I shouldn’t have taken thier word about the comps and values of these homes. I should have no problems renting these 3/1 homes thru sec. 8 but as far as reselling I am bit concerned.I am now focusing my eeforts to market my business looking for motivated sellers.My cash situation is good with 25k in reserves and my kwowledge is growing daily with Bronchicks 2 coures Flipping and Nuts and bolts.I just seem to have a problem with kwowing true mkt. value of properties in my areas, having not sold any homes yet.Any info that you can supply would be greatly appreciated. Thanks!
Re: transaction amounts - Posted by Ronald * Starr(in No CA)
Posted by Ronald * Starr(in No CA) on April 02, 2002 at 15:48:39:
Marc–(NJ)----------
There has been lots of discussion on comping properties on this main bulletinboard of the CREONLINE.COM website. You probably would do well to do a search through the archive.
If you look at a hunderd homes for sale and then follow up to find their sales prices, you will probably know the market very well. Maybe, if your territory is a couple of counties, you will have to look at more than 100, so you have an idea of the distinctions in values in different locations. I got this suggestion from Bill Green’s Book " Think Like a Tycoon." You can also access listed properties for sale on the internet at www.realtor.com. This is a very handy source for finding values in an area, especially if you follow it over time and find out what the sold prices for the properties were. You might print off the listing and then later follow up with the sales or buyer’s agent, the buyer, the seller, the county recorder’s office, or the assessor’s office.
There may be commercial companies supplying information about assessment rolls in your area. The two biggers are FARES–first american real estate solutions–and DataQuick, now known by some name like axcion or accion or axxion or something like that. Check the toll-free directory assisance. I think the DataQuick name still shows up on it. While these cost some money, they can give you excellent information, allowing you to be far more successful than people who don’t use them. There may be some local companies you can find that do this too. I have found local companies in OKC, OK and Boise, ID, in the past.
Good InvestingRon Starr****