I just subscribed to realty track and just wondering if any body out there can tell me how accurate their information are in their realestate postings

Asked by Sarioko, 92064 Wed Nov 24, 2010


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Steven Ornellas’ answer
Steven Ornel…, Agent, Fremont, CA
Wed Nov 24, 2010
Hi Sarioko, save your money!

RealtyTrac is not a "distressed property MLS", they simply take public record notices and syndicate the information to the web. To the uninformed this looks like home are being sold for cheap; however, the truth is that most of the time the home is not even listed for sale.

Distressed property is almost always sold via Realtor MLS systems to provide the widest exposure as possible. The remainder is sold directly to investors via "portfolio purchases" where multiple homes are sold at once, public auction on the County courthouse steps via a Trustee Sale, or via private auction companies.

Best, Steve
1 vote
David Rudd /…, Agent, San Diego, CA
Wed Feb 20, 2013
Hi there -

I have friends that used RealtyTrac years ago so they may have improved, but they ALL were truly disappointed with their services. Big promises, "easy", etc turned out to be more marketing less action.

Also, if you are looking at buying a foreclosure, look into financing first! If buying via court steps (where they are typically sold) many Counties require cash only. Also, know you are going up against people that do this as their full time job, work for corporations etc. It sounds great - but go to a few and see what it is like first.

Hope this helps!

David Rudd
2 votes
sugarkane59, Home Buyer, Poway, CA
Wed Jan 30, 2013
I will tell you my experience with realty track:
0 votes
Sophie Sausm…, Both Buyer And Seller, San Diego, CA
Thu Oct 13, 2011
I am new to this site too and was wondering the same thing. Great info!!!
0 votes
Sarioko, Home Buyer, 92064
Sun Dec 12, 2010
Thanks to all of you that responded to my questions ,It's been very educational.I agree that working with a good R E agent is the way to go,since they get paid by the sellers anyway.
0 votes
Myra Gouger, Agent, Las Vegas, NV
Sun Dec 12, 2010
From my experience, not too accurate. The online search places are good starter places, but you have to really run the MLS to find out how accurate the information really is. The MLS is updated in real time. Some of the listings on the internet services are quite out of date.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Sun Dec 12, 2010
Keep in mind that when looking at some of RealtyTrac's ad, some of the information be misleading and inaccurate--you could be looking at a lis pendens property--notice of default--or some other kind of fee; some of those properties may not be for sale yet, and some may never be if the owner satisfies the default--therefore if interested in foreclosure, work with an agent of your own, he/she can provide you free and accurate information.
0 votes
Keith Manson-…, , Milwaukee, WI
Sat Nov 27, 2010
Realty trac is a tool not the only source for looking for a property. Realty trac hires vendors to supply information for specific areas through public records. Some areas of the counties use better systems track the information. I a meeting I had with realty trac , they indicated that the information was 60% accurate.

If your a investor that wants to be active in finding properties, it may have some benifits. However, if you are a first time buyer, it is better to find a good buyers agent to assit you with the process. It is like any other thing, one tool does not make you an expert and it takes time to master the tool.

You have to understand all properties on realty trac are not for sale. Some of the people may deliquent and not going to try to sell (just let the property go to foreclosure). Others may be second mortgages and will not help you because the property still has a first lien on the property. Still others property owners may file bankruptcy and delay the sale process. The REO section is good because those properties are going to be sold or have already been sold. The timing of reo's depends on timing of notice. I have seen where they are not available yet and where they sold months before listed.

Keith Manson
First Weber Group
Certified Distressed Property Expert
Metro Mileaukee

0 votes
Cameron Novak, Agent, Corona, CA
Sat Nov 27, 2010
OOPS... sounds like this is a question you should have asked PRIOR to signing up. Sorry... no help here... I haven't had interaction with them or anyone who has used their service. Good luck.

Corona Short Sale Agent
Corona, California
0 votes
Larry & Jacq…, Agent, Wasilla, AK
Wed Nov 24, 2010
I was discussing Realty Trac with a group of Realtors in Alaska. We went through the list and saw several properties that were no longer bank owned but had sold weeks prior. A lot of the information appeared to be correct but was peppered with out dated details. I have used USA Foreclosures.com to keep up on when the properties revert to the bank and what properties are coming up. This site, at least for Alaska, seems to be very accurate, plus its free. Hope this helps.

Larry Ficek
Alaska Dream Makers
0 votes
Chad Basinger, Agent, San Diego, CA
Wed Nov 24, 2010
I believe Realty Trac does have some nice features. The one thing that I find most beneficial is the property analysis, so that you can see what type of returns you would be earning, running all kinds of scenarios. However, as far as your specific question, the other respondents are absolutely correct in that Realty Trac merely pulls their information from other sites. Thus, it is contingent upon all the other sites being accurate as well. As with most sites, there are some positives and some short comings. Another site that is useful when looking for foreclosures is foreclosureradar.com....they offer a 3 day trial, so I'd recommend doing that and really digging deep into it for three days to see if it offers exactly what you are looking for. There is a pretty cool video that gives you insight into how the auction proceedings take place on the courthouse steps. While sites are definitely one source, it wouldn't hurt to speak with someone who is in the trenches on a daily basis. Best of luck!

Chad Basinger, REALTOR®, CPA, CFP®
Web Reference:  http://www.chadbasinger.com/
0 votes
Steven Ornel…, Agent, Fremont, CA
Wed Nov 24, 2010
Less than 30% of RealtyTrac listings are actually for sale:
0 votes
Jennifer Pla…, Agent, Glenview, IL
Wed Nov 24, 2010
I specialize in foreclosures and use realtytrac a lot. The information can be dated and not just by days, by months. Some properties remain on there well after they are sold or auctioned. And there are a lot of properties out there that are not on realtytrac that are in foreclosure. The best place to find foreclosures if you're serious about finding a solid one with great value for your money is through an agent and I'm not just saying that because I am one. But we have access through the MLS and Realist which is a tax site and can find foreclosures for you instantly and be successful in getting them closed.
0 votes
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