Bountiful, UT · Member since 2016 · 22 posts · 10 votes
Hello All!
How do you get a "pulse" on the market? Do most people just look at all of the MLS listing sites (Realtor, Trulia, Zillow, etc.) or local classifieds and craigslist?
Whats the best way to pull comps? Is there a database to pull all of this information from?
Bountiful, UT · Member since 2016 · 112 posts · 52 votes
9y
@Andrew McFarlane The short answer is, yes. :D You can talk to a local realtor to see about comps. You can do your own research from all of those site and pull data from there. CL is a good way to judge rents in the local area to see if your property rents are near/at/or above market..
Pulling comps, and this is an educated guess, to get the data you need for a full analysis will require access to the MLS. Not sure you can do that in UT without a license, but I'm not sure about that part.
Bountiful, UT · Member since 2016 · 112 posts · 52 votes
9y
@Andrew McFarlane The short answer is, yes. :D You can talk to a local realtor to see about comps. You can do your own research from all of those site and pull data from there. CL is a good way to judge rents in the local area to see if your property rents are near/at/or above market..
Pulling comps, and this is an educated guess, to get the data you need for a full analysis will require access to the MLS. Not sure you can do that in UT without a license, but I'm not sure about that part.
Rental Property Investor · Lehi, UT · Member since 2015 · 195 posts · 133 votes
9y
There are a lot of programs that will give you access to the MLS actives. If you let me know you want it, I can send you a link to your smart phone. The solds are a bit harder. I am married to a realtor, so I just have him print them up for me. Most realtors are happy to type in your parameters and email the results to you pretty quickly.
Bountiful, UT · Member since 2016 · 22 posts · 10 votes
9y
That would be great! If there is a way to get an excel file of all of the listings that would help me those most but I'll take what I can get to put together comps and use that data to help in my analyses of properties.
And yes I heard the "solds" are either inaccurate or non-existent as Utah does not require those numbers to be public record.
Real Estate Broker · Salt Lake City, UT · Member since 2015 · 145 posts · 150 votes
9y
@Andrew McFarlane I love playing with the numbers. Here is an example of what I like to do:
I have a client who asked me to compare Tooele with northern Utah county and southern Salt Lake county.
I was actually quite surprised with the price performance of Tooele. It looks like Tooele is holding its own against the other two areas, with the highest growth of 2014, 2015, and 2016:
There are lots of agents who like to play with numbers like I do. Find one and show him or her that you are serious and they should be willing to do lots of hunting for you and along side you. (Do your own hunting too!)
And even better, get your own license! MLS access costs me $40 per month and Salt Lake Board dues are about $750 per year, but the ability to get my own data WHEN I want it is priceless.