If it's a numbers game, where do I get the numbers?

Question

Just wondering where I might find things like median home prices in a region, average number of days on market, vacancy rates, and anything else I can get my hands on. Any suggestions?

Ute Carter · Answer

The amount of documentary stamps should be noted on the instrument - you can calculate the dollar value from that.

Mitch Freed · Answer

Check the local University if you have one...they may have a real estate dept. that puts out quarterly reports.

There may even be some professors who can provide some insight.

We have on here in Portland.  Eric, not sure if you have ever seen the report that Portland State University puts out...but it's pretty detailed.

I would attach the file for 2008 1st quarter..but I keep getting an error.

Anyways, here is the link and you can download it from there.

http://www.pdx.edu/realestate/research.html

There is a lot of fluff at the beginning so skip to page 40 and up...thats where the data starts.

Mitch

Eric Foster · Answer

Mitch...

Thanks. I will take a look.

Kathy Utiss · Answer

Hi thru one of my associates I have access to pull just about anything nationally here in the us. Unless for some reason it doesn't pull. I'm not sure what the cost is thru 1st amer title. I can't pull up the website I login to until I restart my computer tonight. Grr dam explorer.

If you'd like to PM me the address I can check and see what I can find from this source. But I can't promise it will amount to much.

The other service thru realquest is good but can be expensive. But its a tool to essentially help you find out such things as the title and get good comps nationally. Then of course you'd want to probably actually hire a realtor for BPO to secure what it tells you. I got use to dealing with things on a national basis with the positions I've held in the past.

Another thing that should help is possibly Titlesearch.com they have different deals but for $40 if its that impossible it maybe worth a shot. Or maybe getting a pacer account to see if owner has been involved in a bankruptcy or not. If so you may gain info you wouldn't of believed possible.

Best of luck,

Kathy

Matthew Mucker · Answer

Kathy,

I'm new to RE investing and I'm not really familiar with the services a title company offers. Care to offer an introduction to this concept for the newbies? :)

-Matt

Kathy Utiss · Answer

Hi NogginBoink,

What about using Real Quest or First Amer Title Property profiles? They sometimes show such things.

Just a thought...And 1st amer is probably cheaper.

Good Luck,

Kathy

Michael Shadow · Answer

Wow, that really would be a bummer.  Once I run the numbers I usually check the records to see what they owe on it and when and how much they paid for it.

Matthew Mucker · Answer

This won't work in Texas. Sales prices are not public information. If you read the deed, most of 'em say the transaction was for ten dollars "and other good and valuable consideration."  The final transaction price is private.

Bummer.

Timothy W. · Answer

Realtors are great if they have the right mindset and you are in the right market.  I like young, cocky realtors for getting information (they love to show me how smart they are) - then old, stealthy realtors for getting bits and pieces of the real story and making offers.  :-)

(FYI - I feed the young guys though - made my realtor 7k richer in January alone.  He doesn't mind giving me info.)

Eric Foster · Answer

Remember to not get too bogged down doing “research”…

Many will spend a lot of time “researching” and never get started.

And yes… Call some Realtors! They can offer some valuable insight. Don’t worry about if you ever work with them or not. Call, ask questions, and if you can in the future give them business.

Also, you can try www.City-Data.com for some pretty good info too!