Trying to find info. on lot prices, Original sales & current asking. (agents, mortgages)

[Mary Jane B]

Can anyone steer me where to go to find information about what lots originally sold for in different communities, and what the asking price is for said lots now? Looking to invest and need to research market first.

[capecodcathy]

That question is very general. Do you have an address or owner name? If so your county's Registrar of Deeds is where you want to start or the local Assessor's office. Beware, though, researching a deed and/or ownership history can become quite involved and you should know what you're doing and what to look for. I do this for my Buyers but only when they are definitely going to make an offer because of the time involved.
Most Buyers want to know this information because they think it will factor into their offer (i.e., if the current owner bought it for $50K, 50 years ago and doesn't owe anything on it, I can buy it for $100K, even though the market value is $300K. Hey! The seller's still making $50K! Right? NOT). Remember, some properties transfer within families for $1 or $100, love and consideration. Look for liens, mortgages, discharges, blah, blah, blah.

[magellan]

Originally Posted by Mary Jane B

Can anyone steer me where to go to find information about what lots originally sold for in different communities, and what the asking price is for said lots now? Looking to invest and need to research market first.

Depends. If the builder is also the development company, you may not be able to find the specific "lot sale" price. It will just show the lot + home sale price. If the developer sold the lots off to different builders, then you should be able to go to your county's website and find the info. Many have GIS type info online (aerial satellite maps which show individual parcels which you can click on and get the property info).

[CouponJack]

Start w/MLS # and most realtors here can give you history I believe.

[shellytc]

Jack, different agents belong to different MLS's. We don't have access to all the MLS's in the country, only the ones we are licensed for in our state, and only the ones we have chosen to pay dues to. I can only check on information in my own MLS in Hampton Roads, I have no idea what is going on with Capecodcathy's MLS.

Just an FYI.

shelly

[CouponJack]

Originally Posted by shellytc

Jack, different agents belong to different MLS's. We don't have access to all the MLS's in the country, only the ones we are licensed for in our state, and only the ones we have chosen to pay dues to. I can only check on information in my own MLS in Hampton Roads, I have no idea what is going on with Capecodcathy's MLS.

Just an FYI.

shelly

you're right.

I would check w/housing bubble blogs to that local market. I know SoCal and NJ (just to name a few)each have their own bubble blogs and if you list the MLS, people would gladly give you the skinny on homes you are interested.

Good luck!