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Costar or not?

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protax

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Jul 1, 2008
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hi all, im new here,so still an idiot, and just started getting into the tax appeal business, currently shopping for a reliable research company to use so i can query for sales comps, property analysis (such as market rent, economic factor, year built, pics, locations, type of lots, etc...) i came across Costar, would anybody recommended it? its a tad expensive so i figure, it would be best to ask if anybody know of any other company that would offer something like this, all comments are appreciated:)
 

CCAAMO

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Sep 17, 2007
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Certified General Appraiser
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California
I use costar all the time but your right they have gotten expensive and it seems to me their research is not what it used to be as many of the comparables have minimal information and may have no income or expense data when they are leased properties. But all that being said, where I'm at they are still the main data source for commercial, industrial and apartments.
 

Michigan CG

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Much of the data is unreliable from my experience and from what I have been told. The information on there is a starting point, but needs verification from a third party.
 

Scott Lanz

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Dec 13, 2002
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Certified General Appraiser
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Minnesota
A person doesn't need the detail on comps for a lot of tax appeal work.

I have bought a few comps off co-star. Loopnet has cheaper sale data. Check with your local assessors, or the area where you plan to work, and see how much data is available on-line. Many times you can get free sale data.

Tax appeal work is interesting. The goal is not to get the "right" value, but to get a reduction to collect your percentage.
 

Kali the Boston Terrier

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Jul 7, 2003
Professional Status
Certified General Appraiser
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Michigan
CoStar is my source of last resort...and I concur with what eveybody else has said, expensive, no income info, need to verify (extensively)...etc.
 

PL1957

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Jul 19, 2004
Professional Status
Certified General Appraiser
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Illinois
Although CoStar clearly has issues, I'm not sure a commercial appraiser can survive without it. It would be like a residential guy refusing to subscribe to a local MLS because he can get the info elsewhere.
 

protax

Thread Starter
Freshman Member
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Jul 1, 2008
Professional Status
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State
Texas
First off, thank you for responding, i am currently using loop net recent sales search and its working out ok, plus the assessor do provide info regarding the commercial property, however, i want to use what the assessor is using and i found out that they are using CoStar, so Scott Lanz (thank you for your input), what would you recommend? Also, does anybody know what i can use to find out the market rent for a particular area?
 

PropertyEconomics

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Jun 19, 2007
Professional Status
Certified General Appraiser
State
New Mexico
... does anybody know what i can use to find out the market rent for a particular area?


Hire an appraiser?

(Sorry Ken .. I like my answer better than yours since the poster is from the general public.)
 

George Hatch

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Professional Status
Certified General Appraiser
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California
Can't live with 'em, can't live without 'em.
 
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