Where to get solid ARV numbers?

Question

How do you go about getting an accurate ARV number?

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!

Brian W. · Answer

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.

Jeff Weissman · Answer

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!!!

Tom Koziol · Answer

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.

Rich Urban · Answer

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

Jason Hanson · Answer

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

Richard Warren · Answer

MarvinE?

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

8)

Marvin Eason · Answer

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:

Aly W. · Answer

Wholesalepro,

I'd appreciate the info as well!

Thanks

Marvin Eason · Answer

Awesome, thanks!  :superman:

Lou Castillo · Answer

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