Hi all...aside from walking around my neighborhood knocking on doors (it's getting chilly outside here in Jersey) whats a good way to become knowledgeable with property values in my zipcode. I wanna be able to spot a deal blindfolded. I've bought a map of my city and was thinking of color-coding the neighborhoods by property value. I'm looking for any other ideas that would allow me to know my farming area like I know my name.
Try zillow.com they are not 100% on there home values yet close. That is a good (NOT GREAT) place to start.
Use Zillow, Cyberhomes, Eppraisal, etc. for the comps they give you. Don’t use their estimates. I think they use dart boards for that.
Also go to your tax assessor’s website. Assessments aren’t always right on the mark, but they might be consistently off everywhere.
You can use this site, if you can’t find your tax assessor:
http://www.netronline.com/public_records.htm
Yare in the right direction picking your sweet spot. It is good idea to get an idea of the range of vaules in your area but you still want to comp out every deal. Some towns prices are different street by street. Use the MLS or Realquest.com for statistics
Networking is important when it comes to locating and buying properties. If local realtors are aware that you are interested in potential wholesale deals, you will find it a lot easier to find properties. A good network of useful contacts is invaluable and one of the best things you can have in real estate. Make sure you always follow up with your contacts – rather than waiting for them to call you back.
This one is simple: every time you go somewhere, the grocery store, your kids school, anywhere, take a different route each time. Pay attention to the for sale signs, the condition of the neighborhood, the type of cars parked in the driveways, everything.
When you are back through that same neighborhood, notice if the far sale signs are on the same houses, or if they have been removed.
Stop and pick up real estate flyers out of the flyer boxes – if you find any houses where the listing agent isn’t too lazy to top off the flyer box when it gets empty.
That will give you a feel for the neighborhoods, and it will also give you a gut feel for what is a good deal when you see it.