Vince, the non-disclosure issue it accurate and an agent should only be disclosing when they are presenting comparables for a potential listing. We can't even advertise (ie), 429 Main Street sold for $125,000...Go ahead and have a market analysis done and be forthright with the agent on the reason you are doing so, (just curious, may list, may sell on my own, etc.). Zillow obviously makes things up because there is no data feed on sales price they could be using for NM. I'm confident you'll find an agent to help that won't bug you for eternity (if you were worried about this...). Remember, an analysis is one person's opinion and although the data should provide an overall idea, I've seen 3 appraisals on the same home with 3 different values (and square footage I might add) so it's not an exact science.

If you purchased in 2005 on, chances are, there is relatively flat value growth. While you keep seeing agents say sales are up, prices are typically not. Again, I stress the number of short sales and pre-foreclosure activity because that's the indicator of value to come. These type of sales drive value down. I was showing homes in Rio Rancho last week and of the 8 we saw, 5 were short sales all within a 1 mile radius. A buyer will think twice about purchasing in an area where the value is declining...things that impact value...and the appraisal.

I think it would be a lot of work and money to get a real estate license for the ability to look at comps. What about training for appraisal work, you would have access to the comps then, it would cost less and you could get paid to use that knowledge!


Barbara

A good realtor should offer this service with out strings attached. I provide this service free, with out obligation. I have clients all over Rio Rancho that recieve reports on their home values every other month. I hope they will pass my name to those who need real estate help.
Any time you need the value of your home or market reports please email me. Again there are no strings attached.
See my web address below.

Vince,

As David Stafford had mentioned earlier, NM is a non-disclosure state. That means that you can't find through the county jurisdictions the actual price paid for a house when purchased. Other than contacting a REALTOR, you could hire an Appraiser and pay $450 for something that any reputable REALTOR would give you for free. We are supposed to be regulated by codes of Ethics which should prevent gratuitis behavior. But, such is human nature at times.

As the person from Marysville, WA mentioned (I used to live in Marysville), you could try Zillow. But, Zillow doesn't work here because NM is a non-disclosure state. Personally, I would like to see NM become a full disclosure state. It would make it easier for the general public to get info on values of homes without the hassle of having to contact a REALTOR. If someone wanted to follow up with a RELATOR, they could then choose to do so. There are many folks who don't chose to use a RELATOR, who buy and sell homes without a REALTOR.

If you want a FREE Market Analysis for a home, I'd be glad to give you one, no strings attached. My website is http://www.SearchHomesNM.com and my email address is Lynn@SearchHomesNM.com.

Chevyfan: Vince already contacted me directly and I provided him with free info and offered more anytime as needed. I am sorry you may have had experiences with real estate agents in the past that have caused you to paint us all as bad, or to assume we are all one way because the larger association lobbied for one cause or another. I hold an MBA and invest myself and believe I can help people and make a living - the only way for long term business sustainability. Hopefully, most of the agents who focus on the next commission only have had to find other jobs. I am happy to help you anytime as well.

The legislature has tried to pass legislation requiring disclosure. Guess who lobbied to kill the bill--you're right! Real estate agents! They have a monopoly on information which is a shame. Obviously this makes it harder to buy and sell without them. They aren't going to give you the info you need if they find out you aren't going to buy anything from them. So just come up with and anonymous e-mail address and ask them for a CMA so they won't bug you further.

You might try Zillow.Com as well - but you may not like the results! Sometimes they are right on target, but sometimes below target. But it will give you a place to start!

Vince,

You may want to search sales on this site. If nothing comes up, call a couple of different realtors ini your area. They shouldn't charge you to do what is called a CMA. Your third option is to hire an appraiser. In my area this costs between $300 and $400.00.

NM is one of a handful of non-disclosure states, meaning we do not post real estate sales prices to public records, which can be frustrating I know. There are services that are now trying to entice the public to post their homes for sale and sales data when they do sell (like here at Trulia and at Zillow), where data is starting to amount to some value. Getting a license is not a bad idea, except that fees to access the MLS, which is where you can get the data you seek are over $1200 per year, so it just might not be worth it. Not sure if you have had a bad experience with a broker in the past but i can tell you many of the fly by night weak brokers in this business have had to move on to something else in this economy. It actually is a good idea in many ways to establish a relationship with a true local real estate professional. Do a little research to find out if they are actively buying and selling properties for themselves in this market - those will surely know the market the best. Ask about their formal education and for past customers you can contact. But most importantly ask about their business model and how you can work together. If they are innovative and collaborative, give them a shot! Email, text, or call me antyime - see website for contact info. Best of luck to you Vince!