Alternative sources for comparable sales...

[Newby]

I am wondering what source the majority of appraisers use for their comparable sales. I have been using Brightmls for several years now but I am looking for an alternative source. What are some other options besides Bright? Thanks in advance.

 

[Terrel L. Shields]

where?

 

[Newby]

where?

where? I don't understand your response as I was asking where everyone goes to look up comparable sales. I am looking for an alternative to my current source. What are some available sources?

 

[Terrel L. Shields]

What are some available sources?

Well... for me, all my data are local. And I live on a state line nearly so work 2 states. That means the two local MLSs which I consult. Also, I obtain deeds and mortgages from the courthouse (in AR) and such deeds and mortgages via a state data compiler - OKData. Further, I get data from 3 different vendors of compiled county records that I can search. So I generally search them first on line via the vendors (which ever covers the county) and then cross-check with the MLS. I do not use any nationwide service. So that's why I asked where are you? because again, the best data are local. I have consulted Zillow Realtor dot com, LoopNet (commercial) for sales and they are nationwide but I rarely need them.

I do find occasionally, sales handled by out of the area MLSs such as the Ft. Smith or Tulsa system rather than the NE OK or NW AR boards. So again a question. Do you not have a local county website to search? Do you not have access to a local MLS? How big an area are you covering?

 

[andrew81]

This is not exact for every situation, but is a good starting point.

If available, (some states do not disclose sales data), the primary source of sales data should be your county assessor office or which ever local government office compiles sales data.
The MLS and 3rd party websites should be used as verification sources and sources of information not found in assessment records.
Additional verification should be done by contacting a party to the transaction, such as buyer, seller, listing agent, or selling agent.

3rd party websites use IDX which should pull information from basically every MLS in the country.

3rd party websites are not replacements for the local Multiple Listing Service. However, if needed they theoretically should be "good enough" because MLS's use IDX to publish the information on 3rd party websites. When an agent outside of my local MLS sells a property, I get as much data as I can from assessment records and websites, then call the agent for verification and unknown information not listed on 3rd party websites.