How do you monitor properties that listed for sale?

[Catalyst]

Folks,

How do you keep track on the movement of properties in your short listed suburbs?

I used a massive Excel spreadsheet when I was hunting for our PPOR. It had listing date (on RE.com.au and REIWA sites), address, price movements, block size, room/bath numbers, $/sqm etc. But that was 7 years ago. I tracked for 9 months until we found the right house.

There must be an easier way

 

[Jamie M]

I wish I had a clever answer but my last purchase was impulsive.

We got fed up with the area we were living in - went out "looking" at properties the following weekend and ending up having an offer accepted on one shortly after.

Cheers

Jamie

 

[Jaggannath]

Folks,

How do you keep track on the movement of properties in your short listed suburbs?

I used a massive Excel spreadsheet when I was hunting for our PPOR. It had listing date (on RE.com.au and REIWA sites), address, price movements, block size, room/bath numbers, $/sqm etc. But that was 7 years ago. I tracked for 9 months until we found the right house.

There must be an easier way

My first was an Excel spreadsheet, my second was impulse, and number 3 I kind of didn't need to, tracked them in my head/on allhomes.

 

[Catalyst]

Hahaha. This impulse thing is pretty useful. Don't need to deal with analysis paralysis

 

[Nem]

For PPOR?? I dont track... I go by what I like and what I think its reasonable price to pay for it... as Jamie said impulsive

For investment yes, its different story and I would really like to hear some good tips

 

[see_change]

We're tracking properties for sale in our area as competition for selling our PPOR .

This time i'm using the my properties on RE.COM . Any comparable a go in there , so I can see when they sell and what for .

I search between various price limits and I'm tracking how many are for in our price bracket .

It's easy to get caught up in over analysis , and I did when I first got involved in property analysis , but having done that it's given be a good understanding of how the market works .

Cliff

 

[Damon]

I use software that has been developed in Melbourne. I can enter an address and select ( filter) my search. I can find all the properties sold in any suburb even ones where the price isn't listed ( saving having to ring agents ) and have this represented by coloured flags like in google maps.

The good thing about this is a picture of undervalued properties starts to emerge. Particular streets stand out as undervalued as neighbours often value what their direct neighbours have sold theirs for often neglecting to see the whole suburb.

It's a way of having your eye on the fact that you will move one day and hope to make some profit when selling.

 

[Kinnon Bell]

I'm a big excel fan. When shortlisting properties what I do is I put a link to the property and a small photo then have a few columns. First ones being specs, price, time on market, discounting etc then I have generic headings such as distance to public transport, rental return, demographic, avg CG etc etc and each cell I make a colour depending on my criteria. Using rental return as an example 8+% is green, 6-8% is orange and under 6% is red. I do this for all columns and the ones with the most green wins where I then add them to my short short list and visit them if I can and do more detailed DD.

Any changes or sale prices etc I add to the spreadsheet as time goes on.

 

[VaSSagO]

RPdata pretty much has all that information and would do away with the requirement for a spreadsheet.