Posted by Nick_FL on September 12, 2003 at 09:37:45:
If you don’t already have a real estate agent I would get one, don’t just call random ones. Find one that is willing to work with investors and it only takes them a couple minutes to get a CMA for you. You just need to meet with them first and let them know upfront. If you want to do it yourself you can pay $5 (instead of 30) at netronline.com
Posted by robin on September 12, 2003 at 24:45:28:
I am a new investor and need to know what is the best and quickest way to get comps on a property I am considering. If I can access this information myself, without having to pay $30.00 a shot as I’ve seen on one website or waiting for real estate agents to respond to email or phone calls, it would greatly increase my productivity. Thanks in advance for any help you can give me.
Different areas have different resources. Not telling your location makes it harder to give you advice.
Look at DataQuick and First American Real Estate Solutions, both with web presence and toll-free lines.
Check your assessor’s office for what they have and for local or regional companies that may be buying their data and reselling it to the pulic.
But you should not be relying on comps anyway, in my opinion. You should already know the values in the neighborhoods in which you invest. You look at comps just to narrow down you estimate of market value.
Pick a few neighborhoods in which to invest and get out and see all the properties listed for sale that you can. Hit those open houses on a regular basis. Follow up to see for what they sold. This is Bill Green’s “100 house rule,” discussed in the book “Think Like a Tycoon.” Once you have seen a few dozen properties in an area you will know the market values. Different neighborhoods? It takes fewer looks to learn the second, the third and so on as you bulld from your knowledge of the first and other ones you already know.