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comparables

ANBERNQ

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Jun 8, 2010
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Hello fellow REIN members.

Can anyone share which website or any idea where to find

comparable prices for houses in Ontario that is reliable close to

recent values, other than calling the realtors.

Thank you.
 

RedlineBrett

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Won't find it as it is only the real estate boards that track sales data. CREA and Realtors are the only source for reliable sales data for residential real estate. No one else has as much of a vested interest in having access to this kind of information and no one else spends and much to collect and categorize it.



If you just cannot stomach the idea of using a realtor to help you then you can estimate it by looking at the average sales price to list price ratio (should be available from your local real estate board for free) and then multiplying it by similar listings to your subject property that you see on MLS. But considering the variance in comparable sales if you are going to be making important decisions with lots of money in play on this information you really should develop a relationship with a good agent. I'm sure if you do the math you'll see that the cost vs. risk is quite low.
 

johnsu

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Sep 5, 2007
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In all honesty when you're dealing with financial stuff, you want to draw your info from "Real Data" and minimize on the assumptions. Especially if you're basing your decision possibly on a "false positive"



Realtor derived info is current, from a huge data pool and more accurate than any other source. So why use 2nd rate information when you can easily access the best source.



How come you're not inclined to ask Realtors? Bad experience? Also, find an "investment specialized realtor" because pulling up the last 3 months of solds may not be the best data to draw from depending on what you're game plan of action is. I used to instruct my realtor on the criteria because I knew more about investing than they did.



If you have serious issues about "asking a realtor", there may be bigger "unrecognized" issues lurking in the dark.
 

ANBERNQ

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Jun 8, 2010
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Hi Bret and John,

Thanks for the reply guys appreciated.

I just wonder if we have like in the U.S where you can pull

comps easily with minimal fees or for free at your finger tips.

I mean more automize since we now live in fast aging computers.
 

RedlineBrett

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nope nothing like that exists in Canada.



There have been companies that have tried to gain access to the database and some realtors have been (illegally) farming data to third party companies but there is no 'quick comps' or 'zillow' or 'redfin' like you find in the US.



Even those companies often only have access to some local boards or they get data that is older and not up to the minute like you can get with a realtor in Canada.



Think about how that data comes to exist... you need a realtor to load the listing onto the system, go and sell the house and then input the data once it's sold. Then you need a local real estate board administration team to make sure that the data is accurate and if the numbers seem out of line check it with the actual contracts. Not a small task to do 1000s of times over and there are hundreds of people employed by local boards nationwide to pull it off.
 
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