Home Buying in 33173>Question Details

Whisperorion, Home Buyer in Temecula, CA

realtytrac is it worth the fee?

Asked by Whisperorion, Temecula, CA Thu May 27, 2010

realtytrac is it worth the subscription fee?

Help the community by answering this question:


I would encourage anyone considering a "free trial" with Realtytrac (or any other forcelosure paysite) to go to http://www.ripoffreport.com. I was interested in signing up for their service but I am ever so greatful that I choose to educate myself first.
I have worked in the credit card industry for over six years (dispute department), and I know how difficult it can be to stop a recurring charge if you happen upon an unscrupulous merchant who continues to charge you even after you have cancelled your "subscription". As an aside, if you find yourself in this situation, please contact the credit card company. Ask for the dispute department, if you happen to get an a**hole, request a manager or floor supervisor.
If you are an individual looking to purchase a home for your family, talk to a local real estate agent. They can pull foreclosures listings for free. I hope that my input has been benificial. Good luck and God bless.
As Always, Casey
6 votes Thank Flag Link Sat Jun 26, 2010
Hello Whisperorion,

The real deal is this--Realty trac uploads ALL information from county records of any property that goes "lis pendens"--which basically means that it has had a lien filed on it. Now, this could be a 1000 lien on a 400,000 house, and since it only would take 1000 to settle the lien, it can appear as though you can buy that house for 1000--obviously not the case! Many of those homes are not on the market at all.

Either work with a realtor (which costs you ZERO) or go to a website of a realtor that has access to the local multiple listing service, or go to realtor.com--realtor.com only has what is current on the mls. On my website for example, I have a button where you can just go and look at what is listed for sale as a foreclosure. Free for the looking, and you don't have to register to get the information.

Most reputable realtors will share this information with you--and again, the seller (in this case would be the bank) pays the realtor commission--not you the buyer.

If you have any other questions on how this works, feel free to give me a call. But in short no, you don't need to pay the fee.

Myke Triebold, GRI, LMC
Web Reference: http://www.MykeTriebold.com
3 votes Thank Flag Link Thu May 27, 2010
No needed, your better off working with a realtor in your area. Realty trac tends to have aot of misleading and inaccurate information. Deal with a realtor who can provide you with update andaccurate information FREE!
2 votes Thank Flag Link Thu May 27, 2010

Realtors have same information, correct information, more up to date information and it yours for Free.
2 votes Thank Flag Link Thu May 27, 2010
Having never been on that site, I don't have an opinion. However, I understand that most of these sites have outdated or incomplete data, which complicates matters. What I can say is that there are multiple sites that are free where a buyer can go to get information. Coldwell Banker has coldwellbanker.com and floridamoves.com - one for a national search and the other strictly in Florida. There is also realtor.com which has every listing - in the millions. If you are searching for something here in the Miami area, I can give you access to ListingBook. This gives you access directly into the MLX, which is the system Realtors use to search for homes. You can change your criteria, widen the search, etc., without having to depend on a Realtor. When the time comes to see the properties, then you get a Realtor involved.

I hope I've been of some help. Please let me know if you're interested in ListingBook and I'll set you up. TX!

1 vote Thank Flag Link Sat May 29, 2010
No. I am now required by the rules of this website to pad my answer so that it has at least 25 charasters. I love Trulia, but I've never understood the 25 rule. Sometimes yes or no is the best answer.
1 vote Thank Flag Link Fri May 28, 2010
Do you mind paying them money only to find out that most of what you see is not really for sale? That is what you would do if you signed up with them.

Save money, save hassle, save yourself from some upsets. Just find a realtor and have them help you find foreclosures at no cost to you.
1 vote Thank Flag Link Thu May 27, 2010
No, no need to pay, any agent can help you with accurate and up to date information--Keep in mind that RealtyTrac's information is not always accurate and oftentimes misleading--you could be looking at a lis pendens property--notice of default--some of those properties may not be for sale yet, and some may never be, if the default is satisfied by the owner. If you are interested in foreclosures, work with an agent--he/she will have access to reliable information--also don't overlook traditional sales as some may turn out to be a much better bargain than some of the foreclosure properties.
1 vote Thank Flag Link Thu May 27, 2010

I would have to ask you what your trying to accomplish by obtaining a service like Realtytrac? If you are looking to invest in properties as a full or active part-time investor I would say this "type" of service can prove invaluable. Competition for serving foreclosures is tight! Lawyers, Realtors, and investors are all sending mailings and calling these people! Getting to these people early and often is the best way to be successful.

If, however, you are only casually looking at homes I would suggest working with a realtor. Most realtors are savvy enough to let you know whether a particular property has a lis pendens or pending foreclosure!

Either way, I have no direct experience with realty trac. I receive a service through my Realtor Board which is very similar and am quite pleased with it!
0 votes Thank Flag Link Mon Jul 12, 2010
Yes! it is worth the fee if you want to avoid those houses, in which the owners are living for free and have no intention of selling the house.

Most houses in foreclosure go through motions of putting the houses for sale. First sign - Asking price higher than they paid 4 years ago. They always have multiple offers exceeding full price. They are reluctant to so show you the house unless you can show them the funds in a suitcase before making appointment and last but not least, they can not show you the house when you want to see!
0 votes Thank Flag Link Mon Jul 12, 2010
How many foreclosed house are you planning in buying in the first place?
Realtytrac is a professional tool and provides extreme and accurate information for professionals in the field of Real Estate. If you are a consumer forget it.
Contact a Realtor who has that tool in his arsenal. If you are an investor it may change my opinion but depending on your volume of purchases.
Less than 10 forget it. Contact an Agent.
Best Regards
0 votes Thank Flag Link Wed Jun 2, 2010
Hello Whisperorion,

I hope you are having a great day.
Why would you pay for this information when you can get it from
your local Realtor for free?
Plus, from your Realtor it is updated information.

Just my Opinion.

Kind Regards,

Jackie Fortier
Cinderella Realty
0 votes Thank Flag Link Thu May 27, 2010
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