My Easy Way of Getting Real Estate Comps
What I have done might be a little more involved, but none the less I get the comps that I need. My local Sunday newspaper prints all the RE transactions(I suspect most newspapers around the country do this) from the month prior, so I designed a database(easier than you might think) from that little old program that most of us have in our Microsoft Works package and input every transaction for the area I try to do business in. So I will know what homes are selling for when I go to a motivated sellers home, or you could just stockpile the RE transaction sections either way you would have the "comps" you need.
be careful here... if you have not seen the inside of the house you could be making assumption about a home's value without all the facts like whether it's in move in condition or needs lots-o-work.
Well done, way back in 1954 when I got out of the service I needed to know the comps in the area of West Hollywood and of course not being a member of the Realty Board, I had to look elsewhere and the dear old Los Angeles Times had the information. I am so glad that people are still using it. The way it is done today is even better, cause with a little knowledge they even describe the sales in a manner that you can tell the "forcemonts" from the real sales. Also they peg full transfers from partials etc. Pretty good stuff.
A trend change is notable imediately not like the MLS statistics.
In speculative buying the more current the statistic the more useable. You are using your head. Cheers very impressed. Lucius
My only question would be whether or not you could get the data electronically and save the time doing manual entry by importing it. Even if a fee is involved, it may still be offset with the time you save.
Call a realty agency, ask for the newest agent. Tell him that you need comps for an address, you will pay him/her 50.00 cash. They are usually young and need the money for a night out. It takes them all of 10 minutes in the MLS system. Money well spent.
Real estate agents are independent contractors, who work thru a "Broker".
Everything an agent does as it pertains to real estate needs to go through their Broker.
Agents can not legally accept one penny, that is if they want to keep their license.
Most newspapers orientated arount larger cities are based on the internet as well. in chicago, one paper covers pretty much all the areas within a 100 mile radius, if not larger. Try that.