Home Buying in San Diego>Question Details

Robert Creag…, Both Buyer and Seller in 92069

how can realty track say a house is worth 1.00 dollars is it worth the money to join

Asked by Robert Creager, 92069 Tue Apr 20, 2010

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Laura Reilly’s answer
My experience with realty trac is the information is woofully out dated and incorrect. Homes will have already transfered ownership, either thru a short sale or foreclosure. There are much better, faster, accurate and completely FREE ways to track foreclosures.

Laura Reilly- Foreclosure “INVEST”igator USA
“I have a problem with too much money. I can't reinvest it fast enough” Robert Kiyosaki
0 votes Thank Flag Link Wed Apr 21, 2010
How can RealtyTrac say a house is worth $1.00? Because the information is intentionally incorrect and no one (yet) has had the cojones to take them to court. The information provided by RealtyTrac is incorrect, misleading, outdated, and often just plain wrong.

Is it worth the money to join? No. It's a total waste of money. And you'll see some questions here on Trulia about people who've signed up, and then they can't terminate their subscription.

As the other answers point out, you can get accurate, up-to-date information free from any Realtor. Or as Dan suggests, go to http://www.realtor.com
0 votes Thank Flag Link Wed Apr 21, 2010
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Understand that RealtyTrac doesn't offer anythign you can't find out for free. As others have mentioned, the prices you see for realtytrac on Trulia are NOT actual prices, but are teasers to lure you into paying for their site.
Realtytrac may list homes in default that are not actually foreclosures for sale.

Any foreclosure that is actually for sale will be on the MLS and a real estate agent can send you these listings (and set you up on an alert so you are among the first to hear about new foreclosure listings!). And this will be at NO cost to you and will be more accurate than RealtyTrac.

Richard Schulman
Keller Williams Realty
0 votes Thank Flag Link Tue Apr 20, 2010
Don't bother with Realty Trak , that program causes buyers more confusion than anything. Do yourself a favor and get an agent to help you navigate foreclosures.
0 votes Thank Flag Link Tue Apr 20, 2010
Robert,
There's just so much more to the whole thing. Like the answers below, your best option is to have a Realtor look at it for you. I can't think of anyone who would charge you for figuring out your comps for you, and determining the value of a property or of your own property. Knowledge of the market counts a lot, plus you really need to pull up and look at the listings that were sold to see what their condition was, and what the terms of the sale were (foreclosure etc.). Conditions are changing quickly.
Anyway, you get the idea. You don't need to join realty trac to get the information you need. Just call a Realtor and they'll do it for you for free!!
Mike Fritz
mike.fritz7@gmail.com
mikenorthcountyrealty.com
0 votes Thank Flag Link Tue Apr 20, 2010
Realtytrack lies. The listings are bogus. The prices are wrong. Often the houses are not even for sale or in foreclosure. Do not waste your time or money on realtytrack.

You can go to http://www.realtor.com and look at real foreclosures for sale there. You can have it send you daily updates per your custom requirements. You could also ask a realtor to send you the same information.

Below is a blog that explains what realtytrack listings really are worth.
http://www.trulia.com/blog/dunes/2010/01/trulia_foreclosure_…

Below is a question asked about them being legal. Notice the lack of a reply by trulia staff. Trust me, it has been seen by them. They simply refuse to reply as they know they are in the wrong.
http://www.trulia.com/voices/Using_Trulia/Does_trulia_know_w…
0 votes Thank Flag Link Tue Apr 20, 2010
IMHO RealtyTrac is not good (and that's being pretty kind) when it comes to determining values. I only rely on it to track foreclosure activity (which it does effectively - although for me Foreclosure Radar is better).

Seriously Robert, you have to do your own research on pricing or get an agent to do it. No automated process I've seen yet does the job of a real person analyzing comps.

Paul
0 votes Thank Flag Link Tue Apr 20, 2010
Realty Trac lists all properties be it behind in a quarters worth of taxes or a month behind in mortgage payments. In order to have Realty Trac work somewhat you have to find out more information about each property either thru the tax office or if it's listed with a realtor or just a month behind in payments. Also know that we have found several listings with realty trac that do not exist not even a house at the address they area saying. So beware of what is listed with that company

all the best
Web Reference: http://www.urhomerealty.net
0 votes Thank Flag Link Tue Apr 20, 2010
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