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 ext 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. |
|
