where do you get your comps?

General Real Estate Investing
1

Do you use an internet site? A real estate agent?

2

If you have a Realtor friend in your network, that would be the first choice. If not, there are a number of online sites that provide this information. Some for free, others for a reasonable fee. The free ones are, generally, worth about what you are paying. :-
Try www.homesmartreports.com, and www.sitexdata.com.

3

I also use RealQuest, it is cheaper than SiteXData. And Zillow is good to show the homeowner because it is free and they can check it themselves if they want to. For that matter Realtor.com is good too.

4

I just pulled some comps free through a county website where the property is located. I found information on most recent sales, $ amounts, and property specifics through the website’s tax assessment and property information area.

In comparison, myself and an investor looking at my property were very close with $ figures. Of course, not all county websites are user friendly and make this task easy.

I hope this helps

5

Try www.zillow.com call an appraiser ask him for comps then get a realtor to also pull comps add all of those plus your county appraised value divide by four and that is pretty close.

Hope this helps.

    Robb

I love a good copy paste post…

6

Zillow does not have many Z estimates in my area.

I also use: www.ditech.com and

http://realestatecenter.bankofamerica.com/REPORTAL/homepage.aspx

One of my construction loan banks uses the Bank of America site prior to sending out their appraiser.

Usually you will need to adjust down the estimates from these sites. I have found that the real numbers are about 10% to 15% lower for the ARV. It seems that the sites view the house as if it were in normal, not distressed condition.

Chip Hoisington

7

Good point Chip :).