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Comparable sales
Posted on 6/10/09 at 11:31 am
Posted on 6/10/09 at 11:31 am
I am just starting to look at houses and am not working with a buyer's agent at this time. Is there any way to find a list of comparable real estate sales on the internet or elsewhere?
3
Posted on 6/10/09 at 11:33 am to hen
The courthouse, but you can pay a real estate agent like $70 to get a BPO (Broker Price Opinion) which will include 3 comps. Can get expensive if you haven't narrowed it down to a few houses.
Posted on 6/10/09 at 12:53 pm to hen
call a few realtors and ask them. Use it as a test to determine if you should go with them. Just don't sign anything.
You can also check out zillow. Most assessors have an online search tool you can use. Some are pretty good, some are terrible.
You can also check out zillow. Most assessors have an online search tool you can use. Some are pretty good, some are terrible.
This post was edited on 6/10/09 at 12:55 pm
Posted on 6/10/09 at 1:09 pm to hen
tread carefully, usually consulting an agent is a good idea 
Posted on 6/10/09 at 1:57 pm to Shankopotomus
what area? why not work with an agent, it cost you nothing and their job is to get you comps.
Posted on 6/10/09 at 2:02 pm to FriscoKid
That zillow site was about $100k off the estimate of my house. Not sure how fruitful that would be, although it claims to know the price at which my neighbors house was bought for. (I am not sure if it is correct, but it seemed high)
FYI: The zestimates seem to be based on how much taxes were paid, and thus loosely based on the assessments. The guy down the street with a much larger house is paying less property taxes (according to zillow) than I, and thus the website thinks my house is worth more.
FYI: The zestimates seem to be based on how much taxes were paid, and thus loosely based on the assessments. The guy down the street with a much larger house is paying less property taxes (according to zillow) than I, and thus the website thinks my house is worth more.
This post was edited on 6/10/09 at 2:06 pm
Posted on 6/10/09 at 2:18 pm to FriscoKid
quote:
what area?
Northshore. I have a comp report from two months ago, but it is missing a few more recent sales. I might just try to look those up individually.
quote:
why not work with an agent
Not really interested in paying someone 3% to find a house in an area that I know better than most agents. I also have some friends who are agents and willing to offer some free advice. However, I might consider using an agent if I look into any complicated transactions.
quote:
it cost you nothing
I am hoping to parlay the lack of a buyer's agent fee into a lower purchase price. And in that sense, an agent does cost something.
Posted on 6/10/09 at 2:59 pm to hen
Some buyer's agents do ask you to sign a contract agreeing to let them represent you on all sales including FSBOs. Most of us don't - you can still look at FSBOs on your own, but have a realtor that is going to have access to all listed properties and help you with things such as comparables. You may end up finding a better buy on a house that is listed than a FSBO. Don't overlook working with a realtor because you think you're saving money.
Hopefully you haven't missed the boat on the lowest interest rates - they have really popped up in the last 2 weeks.
Hopefully you haven't missed the boat on the lowest interest rates - they have really popped up in the last 2 weeks.
Posted on 6/10/09 at 3:20 pm to lsubandmom
Can you please expand on your reasons for using a buyer's agent?
Here is my situation - first time homebuyer. I'm a lawyer with some real estate transaction experience, but I have never bought a house myself. I am open-minded when it comes to styles and conditions of houses, but am very particular about the location. I know the location where I am looking very well. I have all of the comparable sales from the past year, except for a few of the most recent. I am looking at existing single family houses (none of which have been foreclosures/short sales). I have financing/pre-approval in place.
What are the benefits of someone in my situation using a buyer's agent?
Here is my situation - first time homebuyer. I'm a lawyer with some real estate transaction experience, but I have never bought a house myself. I am open-minded when it comes to styles and conditions of houses, but am very particular about the location. I know the location where I am looking very well. I have all of the comparable sales from the past year, except for a few of the most recent. I am looking at existing single family houses (none of which have been foreclosures/short sales). I have financing/pre-approval in place.
What are the benefits of someone in my situation using a buyer's agent?
Posted on 6/10/09 at 3:23 pm to lsubandmom
quote:
Not really interested in paying someone 3% to find a house in an area that I know better than most agents. I also have some friends who are agents and willing to offer some free advice. However, I might consider using an agent if I look into any complicated transactions.
if you dont have an agent the sellers agent will just try and collect double commission and you want an agent to represent your best interest. a good agent may save you 10% off asking if he or she knows the area and the recent trends.
Posted on 6/10/09 at 3:26 pm to FriscoKid
quote:
sellers agent will just try and collect double commission
The amount of their commission is not spelled out in their contract with the seller?
Posted on 6/10/09 at 4:06 pm to hen
You are pretty savvy, I wouldn't worry about not having an agent. Most everyone that tells you that you must have an agent is an agent, mortgage broker or has something to gain by you using an agent. Anyway they are desperate to get clients right now. Call them up and tell them you are looking. Make them do all the leg work, and present it to you. you will have to field their calls, but you will not be on the hook for them. You have the complete upper hand with almost any agent at this moment, use it to your advantage.
I have had a buyers agent take me to visit 20+ houses without signing anything. And this was when the real estate market was in much better shape.
The one thing that you may miss by not having an agent is a steady hand. It will probably be a very large financial transaction, and someone to keep you balanced is good. But the problems with agents are their interests are not aligned with yours. At all. They want to get you in the most expensive house as fast as they can.
I have had a buyers agent take me to visit 20+ houses without signing anything. And this was when the real estate market was in much better shape.
The one thing that you may miss by not having an agent is a steady hand. It will probably be a very large financial transaction, and someone to keep you balanced is good. But the problems with agents are their interests are not aligned with yours. At all. They want to get you in the most expensive house as fast as they can.
Posted on 6/10/09 at 6:02 pm to hen
quote:
The amount of their commission is not spelled out in their contract with the seller?
yes its in the contract with the seller. usually the buyer agent gets 3% and the sellers agent gets 3% not matter what the sale price is unless its specified differently. so it benefits you to have a separate agent who is looking out for only your interests and not an agent who represents both parties. email me if you want I have a family member who is agent who will talk to you for free and not make you sign anything.
runpmc79@gmail.com
Posted on 6/10/09 at 10:56 pm to hen
Didn't realize you are a lawyer and that you are able to represent yourself.
Even so, you may be able to find a house that suits your needs and is a better value by using a realtor that knows what you are looking for. Also, I can let other realtors know that I have a client looking for a certain area, style or whatever and sometimes know about a property before it goes into MLS or has a sign in the yard.
Best of luck - hope you find a great house!
Even so, you may be able to find a house that suits your needs and is a better value by using a realtor that knows what you are looking for. Also, I can let other realtors know that I have a client looking for a certain area, style or whatever and sometimes know about a property before it goes into MLS or has a sign in the yard.
Best of luck - hope you find a great house!
Posted on 6/10/09 at 11:03 pm to MileHigh
quote:
They want to get you in the most expensive house as fast as they can.
I want to get my clients in a house that suits their needs and that they feel like they can afford. I'd much rather have a satisfied client that's going to send me more business and knows that I look out for their interest. If I see a house that looks like a piece of crap, I tell them its a piece of crap. That goes for overpriced houses, etc.
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