Where to get solid ARV numbers?

Various free sites I go on show expected ARV's..etc but who knows how close they are. I looked at one for the house I live in and I don't think its remotely close.

Is there a way to calc it yourself? Do you get that number from an appraisor or inspector? Is that something you find when you put it under contract? Are there good pay sites out there?

Thanks for the help!

Edited: 06/26/2010 at 04:48AM

Lou Castillo

Real Estate Investor · Charleston, South Carolina

108 posts
132 Influence
1 Award

Icon_minipost Mar 04 '08, 09:12 PM

I'll tell you the same thing that I tell my students - never let anyone else tell you the ARV - calculate it yourself. Whether you are using a free site or a paid site (if you e-mail me I'll be happy to send you a list of both), or getting a CMA from a Realtor, you still want to analyze what the data is saying. o not look at averages. Look at the individual properties. Which ones are the closest in distance to your subject property? Which ones are most comparable in size? In bed/bath configuration? In age? Which have sold most recently? Which way are the sales prices trending? What else is on the market right now? How are they priced - above or below recent sales?

All of this together will give you a good idea of the ARV.

Edited: 06/26/2010 at 04:48AM

Marvin Eason

· Janesville, Wisconsin

38 posts
19 Influence
1 Award

Icon_minipost Mar 04 '08, 10:44 PM

Wholesalepro,

I see you say you have students. I am looking for a mentor to help me get started in wholesaling, would you be willing to take on another student? Could you send me that ARV information also?

Edited: 06/26/2010 at 04:48AM

Lou Castillo

Real Estate Investor · Charleston, South Carolina

108 posts
132 Influence
1 Award

Icon_minipost Mar 04 '08, 11:08 PM

I'd be happy to send them to you. I'll PM them to you along with information about my training.

Edited: 06/26/2010 at 04:48AM

Aly L

Real Estate Investor · Middletown, New Jersey

636 posts
2707 Influence
6 Awards

Icon_minipost Mar 04 '08, 11:48 PM

Wholesalepro,

I'd appreciate the info as well!

Thanks

Edited: 06/26/2010 at 04:48AM

Marvin Eason

· Janesville, Wisconsin

38 posts
19 Influence
1 Award

Icon_minipost Mar 05 '08, 12:00 AM

Originally posted by "wholesalepro"

I'd be happy to send them to you. I'll PM them to you along with information about my training.

Awesome, thanks! :superman:

Edited: 06/26/2010 at 04:48AM

Richard Warren

Real Estate Investor · Las Vegas, Nevada

1825 posts
16444 Influence
12 Awards

Icon_minipost Mar 05 '08, 12:37 AM

MarvinE?

Is that Marvin the Student? If so, welcome back!

Edited: 06/26/2010 at 04:49AM

Marvin Eason

· Janesville, Wisconsin

38 posts
19 Influence
1 Award

Icon_minipost Mar 05 '08, 12:45 AM

Originally posted by "Rehab702"

MarvinE?

Is that Marvin the Student? If so, welcome back!

8)

yeah it's me :oops: I turned away after the housing market bubble burst, listening to that little fear in my head that I had no chance in this, plus without a car, it is really hard to get any real work done on this journey.

However, I am no longer making excuses (*fingers crossed*) I just want to get my first deal done right so I can get over that hurdle and become like you guys. I try to movitate others into tapping into that inner self around here to be a better person tomorrow than they were today, but I still haven't made the leap myself.

But I am glad to be back! It's been too long :). Looks like the site has grown and become better, bigger, I can only hope to follow suit.

:superman:

Edited: 06/26/2010 at 04:49AM

Jason Hanson

Real Estate Coach · Oakton, Virginia

696 posts
577 Influence
5 Awards

Icon_minipost Apr 29 '08, 07:19 PM

To determine ARV have a Realtor run comps, you can also run comps on www.realquest.com.

Edited: 06/26/2010 at 05:07AM

Rich Urban

Real Estate Coach · Jensen Beach, FL

45 posts
1 Award

Icon_minipost May 02 '08, 12:56 AM

Good point Lou...This is where knowing your farm area is CRITICAL! Once you know what things are selling for, finding the ARV is pretty simple.

If you're looking for a free service, you can try Zillow. I wouldn't go by their " Zestimate" , it's crap. However, you can click the option that says " View Comparable Properties" and see what has sold recently.

Remember - As close in distance, # of bedrooms and in this market..AS RECENT AS POSSIBLE!

Best of luck,

Rich

Edited: 06/26/2010 at 05:08AM

Tom Koziol

Real Estate Investor · Sparks, NV

2 posts

Icon_minipost May 03 '08, 02:59 AM

This may or may not be a resource in your locale but I use a title company's online comp page. It is always updated and darned close to what is happening at the time I need the info.

I spoke with their customer service rep and told her what I do and asked if I could have access to their site and she set me up. If you feel comfortable doing it that way, there is an absolute free source for you. I also do my escrows through this title company so I guess it evens out.

Edited: 06/26/2010 at 05:09AM

Jeff Weissman

Residential Real Estate Agent · Oakland, California

68 posts
68 Influence
2 Awards

Icon_minipost May 24 '08, 10:19 AM

Originally posted by "wholesalepro"

I'll tell you the same thing that I tell my students - never let anyone else tell you the ARV - calculate it yourself. Whether you are using a free site or a paid site (if you e-mail me I'll be happy to send you a list of both), or getting a CMA from a Realtor, you still want to analyze what the data is saying. o not look at averages. Look at the individual properties. Which ones are the closest in distance to your subject property? Which ones are most comparable in size? In bed/bath configuration? In age? Which have sold most recently? Which way are the sales prices trending? What else is on the market right now? How are they priced - above or below recent sales?

All of this together will give you a good idea of the ARV.

Dear wholesalepro,
I, too , would be very interested in receiving from you the list of sites for calculating ARV as well as info about your mentoring services. Thanks!!!

Edited: 06/26/2010 at 05:14AM

Brian Weber

Real Estate Investor · Woodward, Oklahoma

81 posts

Icon_minipost May 27 '08, 03:43 AM

I believe that the best way to calculate ARV is to obtain a list of MLS comps. Some that have sold and some that are currently on the market.

You can then see what things are actually selling for versus what they are listed for.

Edited: 06/26/2010 at 05:15AM