How do you get comps ?

General Real Estate Investing
1

How do you get comps in your area without a real estate agent ?

2

There are a lot of places on the web you can use. Here is a free place I have found recently.

http://www.zillow.com/

I also used other places but most of them you have to pay. Goggle.com is a good place to put ion key words for what you are looking for. Try it.

3

Steve -

What state do you reside? If your ina non-disclosure state (like Texas), you are pretty much stuck getting comps from real estate professional (i.e., agents, appraisars).

4

Hi,

Thanks for the responses and free sites. NoMoneyDown, I reside in Rhode Island. Please advise.

Thanks !

5

From: http://www.homeprice.net/questions.htm

The nondisclosure states are ID, IN, IA, KS, MS, MO, NM, TX, UT and WY.

So it looks like you’re “safe”.

6

If you’re going to be a serious investor, then forget the comps. Go look at 100 to 200 houses for sale in your target area and learn the values. By doing this you will actually KNOW the property values and won’t have to depend on a realtor or some inaccurate web site.

If you don’t KNOW your area, you will be at a severe disadvantage as compared to the serious investors in your area. While you’re waiting for comps, a serious investor will buy the house right out from under you.

Good Luck,

Mike

7

See if your county property appraiser’s office has a website. If they do you can look up specific propertys to not only see what the assessed value is (little relationship to market value) but sometimes they will link to recent nearby sales which may or may not be comparable.

8

Thanks for the information !

9

http://www.bankofamerica.com/modular/index.cfm

http://www.domania.com/