Im trying to figure out how one goes about locating a deal in this country… In the US, I knock on the door of the house Im interested in, or I get the property owners’ contact details from my title rep and send the owner a letter. I guess I cant do that here because of privacy laws.
Is the only research really only http://www.realestate.com.au??
And once said deal is located, how does one get the comparables to figure out the correct value?
So far this is my biggest stumbling block..
Any help would be greatly appreciated!!
What I have noticed is the web sites usually have the most marketable properties on it.
So if you want the deal type properties you may have to walk into a real estate office and ask them what properties have they got on their listings.
Median suburb prices can be found in API Magazine at the backHi
There is plenty of data around – this forum is a good source.
Independent valuers, RPdata reports, mortgage brokers and past sales histories available around the place.
Terry Ryder at hotspotting.com.au is excellent
Even ask a question here, it is amazing how many people have good local knowledge.
Hi Tulipslip,
Lilyhutch's has the right idea but the fact is Independent valuers wont tell you anything , they will of course take your money and value a place for you, RP Data wont tell you anything unless of course you want to pay for it , Terry Ryder gives nothing away, but will sell you overpriced reports -he does the occasional article, but if you want anything in depth or off his website you got to pull out the credit card. Mortgage brokers I would doubt retain relevant information simply due to the sheer volume of deals they deal with and really probably not worth their time to worry about it.
Now here is a crazy idea……but it just might work……… hit the pavements and ask some real estate agents…ridiculous I know, but apparently they do know -or should do anyways – the market. Things like whats been sold, whats for sale and whats under contract – and they can access RP Data and PDS Live for free. Some may not want to do so, but i would bet that there is an agent in every office that will take the time to help.
As duckster said, API magazine has some valuable but ultimately limited information in the rear section and only 10 bucks, well worth the read as a heads up into the suburbs you may be interested in.
As for comparative sales, again an agent can issue you with a CMA report, although I guess there is a tendency to put addresses on that make the property for sale look good.
as with everything in life, if you truly want to get the best deal you have to do the hard yards, don't expect people to just hand over deals on a plate. Have fun.
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