Try
these real estate data services for Sales Comps data in your
area. Shark Bait will work with any real estate data
service Sales Comps data.
Sales comps are available from three
sources: national data suppliers (see below), title companies,
and the Multiple Listing Service for your county. The MLS is
usually available free through brokers, or in some cases may be
purchased directly from the MLS.
When you
contact your data source, request that they provide you their data electronically,
in either a dBase (.dbf), or comma
or tab delimited text (.csv or .txt) format. Shark
Bait will then import their data and automatically convert
all of their field names, to match the target field names
that Shark Bait uses.
Some services
will email you the extracted and compiled data, in the above
formats, for your local area (county). Others allow for either
an online download, or provide their data on a CD Rom updated
at various intervals. In the case of either an online download,
or a CD Rom, you will need to sort, or filter, their database
for ALL sales in the past 6 month period. Then you will need
to save the resulting sorted data to a file on your computer.
Once the data is saved to file, you can then import the data
into Shark Bait.
Sales
Comps data should be updated (completely refreshed) every
3 to 6 months. This will provide Shark Bait with the latest
sales records for it's analysis. In a quickly moving market
(either upward or downward) the Sales Comps should be updated
more frequently (3 months). In a slower (flat) market, the
comps can be updated once ever 6 months. Note, these comps
are used by Shark Bait to provide a "macro" opinion
of value (plus or minus 5% in most cases). Once a property
is qualified as having potential equity in it, based on the
Shark Bait valuation, then you should obtain complete property
profiles for the most recent sales, in the subject neighborhood,
and bring that information with you when you drive-by the
subject property. At that point, YOU will refine the Shark
Bait valuation, with your own opinion of value (either more
or less), based on a visual inspection and comparison to each
of the other recent neighborhood sales.
Be sure
to verify that the data provider can provide the following
data fields, with the appropriate data. Not all data fields
are available in all geographic areas. Some data sources provide
more comprehensive data, and data fields, in certain areas,
than others areas they cover. Try to obtain each of the following
data fields with their related data:
· Assessor's
Parcel Number
·
Last recorded sale amount
·
Total square footage of improvements
·
Zip code
·
Map code (e.g. Thomas Bros. map page &
grid, or the equivalent, if used in your local area)
·
Total number of bedrooms
·
Total number of bathrooms
|
State |
Local
Provider |
Phone |
|
All States
|
Dataquick
(click here)
|
800-950-9171 x 3147
|
|
Fidelity
National Information Solutions
FINS
|
(877)
436-DATA (3282)
Ext. 1153
Direct: (916) 990-9444 |
|
First
American Real Estate Solutions
(FARES
- Win2Data)
(Click here) |
800
345-7334 |
Real
Estate Fortune, LLC
(Maricopa County, AZ) |
(480)
855-1299 |
|
Local
title insurance companies. If you have
a
professional relationship with a local title
insurance company, they are usually pleased to provide
you with FREE customer support. This
can include providing you with a compiled data file
containing all of the sales of properties within
your local area for the past 12 months. Contact
your title company's customer service department
and ask for their "farm person". This is the
person that typically prepares and compiles data
lists for local real estate agents (mailing lists,
historic data lists, etc.). The
Shark Bait Help instructions on Importing Sales
Comps explains which data fields are required
for Shark Bait's comp purposes, and what format
the data needs to be compiled into. |
Call your
local title insurance representative. |
|
Real
estate agents. If you have a professional
relationship with a local real estate,
they are usually pleased to provide you with FREE
data support, in exchange for being appointed
as your listing agent on the resale of any foreclosure
properties you may purchase. Local real estate agents
can search their MLS system for all single-family
property sales "closed" within the past 12 months.
They can then save the results of their search to
file ("save to file") in one of Shark Bait's acceptable
formats, and provide you with the data file so you
can import the data into Shark Bait.
|
Call your
local "computer savvy" real estate agent. |
|
