Past Sales by the suburb

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From: Miakat .


Now before you all sign me up for the next public whippin', hear me out. This is a slightly different question to that previously asked.

There are a number of websites that offer a list of past sales by the suburb for a fee. I've had a look at the 'samples' they provided which was not really much help in assessing the value of that particular list. Can anybody who has actually purchased one of these lists, please provide me with some feedback. Apart from address and price I'd also like to see number of bedrooms,bathrooms if possible, land size, renovated etc. etc.

Hoping to hear back from you all

Miakat

 

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Reply: 1
From: H T


yep, i purchased one. It really only gives you a rough indication to base future purchases on 'cause unless you see inside who knows what sort of condition the property was in. It isnt real detailed either and im skeptical on some of the data as a property i purchased was listed inaccurately.
that said if you haven't done any homework on an area, then it can be of some benefit.

 

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Reply: 2
From: The Wife


Mia, I find that these arent true indications of what is owed on the property, for instance, its real popular today, to roll all your smaller loans, into your mortgage when you refinance,

If you are talking car loans, pc loans, school loans, daughters wedding loans, improvement loans etc etc etc...

Then the view of the above companies you mention, can be quite distorted.

 

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Reply: 2.1
From: Miakat .


Sorry TW,

I don't understand! All I wanted was what houses have sold for. Are you saying that these companies actually put down the value of the mortgage instead? If so, I can see what that would distort the figures.

Miakat

 

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Reply: 2.1.1
From: The Wife


Mia,

Using past sales, you can determine that:

Example: house sold for $80K five years ago.

Same house on the market today for

$245K. One would think that there may be room to push the price down, there just might be, but, that pricing factor hasnt allowed for extra's people roll into their mortgage.