Researching Properties

Thanks for your question. When determining the FMV, you would pull comps from properties that have sold in the last 3 months, within a mile of the property. Also, you would compare the same amount of square footage, rooms, house style. Once you have the comps, you would divide the square footage into the price the property sold for. You would do this for each comp. You would then all the average of each and divide it time the number of comps being used. Last, you multiple it times the square footage of the property you are looking at. That will be the FMV.
patt

Coach Patt gave some good advice above. Another tip I would offer is keep a book of the sales records for the pas 3 to 6 months and track whether prices are steady or are trending up or down. This can help you in determining offers and get more of a handle of the FMVs and how they can change over time. Good luck with real estate investing. Believe and Achieve! - Joe

why am I haveing so much trouble researching house to find out what they are worth. Everytime I go to the courts records dept, noone can help u there. I try looking up house that I saw on the street an I always get no information on them, what there worth, selling for, or what is owed on them. someone please tell me if Im doing something wrong. I have tons of house I see all over the differant cities I do in. All empty run down I so much would like to get one to start. Still trying to keep my head above water, company just cancelled our insurance plans. any info would help. thks

Can anyone help me to determine how to find out the value and other valid info on a home when the address is unknown. I know the name of the street and town, but there is no address noted on the property, no mailbox, etc. The grass and weeds are overgrown, and have been for years. I went on zillow to research other houses on the street (which have addresses on their mailboxes) and it comes up with a message that they are unable to find that address. Any suggestions?

Is there a house across the street or beside it with its house numbers visible? If there is take those numbers and go on your Property Assessor's website. Using the information you already have put in the street name where the property is located in the Property Assessor's website to bring up all the properties listed on that street. Look for the nearby houses address in the records. Click on their link and look at the parcel map, the property with the unknown address will be beside or across the street on the parcel map. Record that parcel number and go back to the page where it asks for the parcel number, street address, or partial street name and enter that parcel number in its prespective field and the information you're looking for should come up with the unknown property's address and current owner.