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Answers (13)
- Ed Neuhaus, "Ed Neuhaus"
- Contributions:5
As a private citizen, what I pay for something is non of your business. No one has the right to know what I payed for my house, my car, or my two front teeth.
The value of a property is what ever someone will pay for it. It does not matter what someone payed for it yesterday or the day before. That information is handy and helpful but it is only a guide.
As a professional I understand that most people on this site do not like Realtors. Understandable, I did not like my last one either. But, if I needed or wanted the data, I would just ask a Realtor. I am sure they would be happy to help you.
The value of a property is what ever someone will pay for it. It does not matter what someone payed for it yesterday or the day before. That information is handy and helpful but it is only a guide.
As a professional I understand that most people on this site do not like Realtors. Understandable, I did not like my last one either. But, if I needed or wanted the data, I would just ask a Realtor. I am sure they would be happy to help you.
- sunnyview
- Contributions:25127
I loved Texas and considered moving to Austin permanently. The family on the coasts said I was crazy, but what do they know. I enjoyed living there and was sad to leave. I still miss the wildflowers and the BBQ.
- gatekeeper1801
- Contributions:15
...quit exposing Texas' wierd need to be different. Unless you can get it changed. Texas is like New York. It's the best til you visit some other place and get a whole new perspective.
Luv it though.
- NTETS, "Mr Caveat"
- Contributions:6436
doubtful, its not in the solo nature of the loan star state.
- Naima Sumner, "Dallas Ft. Worth PRO"
- Contributions:2847
There are several builders in DFW that are members of the MLS and therefore enter their own listings in the MLS. I know 3 of them that enter the list price as the sales price and don't record seller concessions.
Now builders are not Realtors, so you can add builders for your list to despise.
Here's an article from the Dallas Morning News from this past June discussing this.
http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/061809dnbusmlsprices.42e728f.html
Also, some counties now send a letter to the new homeowner asking them to divulge how much they paid for the house.
Naima
Now builders are not Realtors, so you can add builders for your list to despise.
Here's an article from the Dallas Morning News from this past June discussing this.
http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/061809dnbusmlsprices.42e728f.html
Also, some counties now send a letter to the new homeowner asking them to divulge how much they paid for the house.
Naima
- Terry Williams,GRI,CLHMS, "Terry Williams GRI"
- Contributions:99
Voters voted on this many years ago, and it was they (the general public) who did not want their neighbors to know what price they had sold their home for. They wanted privacy in Texas, something we like here in Texas. We realtors could care less, and in most cases we tell you what someone paid for a home. If does not benefit us in any way, but makes your buyers and sellers jobs tougher trying to decide what to do. It also doesn't really matter because market value is market value regardless of what knowledge you have. A home is only worth what a ready, willing, and able, buyer is willing to pay. Buyers determine value. Realtors nor' sellers set the prices, but use recent sold data as a starting spot. However, some realtors just starting out will agree with a unrealistic seller on their price just to get their sign in a yard and get their name out there. An experienced and reputable Realtor will turn down the listing because we don't (need) the experience.
- DYeh
- Contributions:218
The current arrangement will force Texas buyer and seller to hire RE agent/broker services. There is no other way to get the sold prices records. This arrangement also benefits the appraiser professionals. Sometime buyer and Seller have to hire an appraiser to find out the values of a property. Of course, the "sold price" or "market prices" are manupulatiable to best suit the situation. I personal think this is crooked and unethical practices. Thus, I don't have a lot respects towards most Texas RE professionals. This non-disclosed way allows the RE professionals to manipulate the numbers.
I had a real experience on a property about the "Market Prices" with 4 different appraisals within 1 month (May/09). I was under contract. The appraisals are
1) seller appraisal,
2) lender appraisal,
3) County appraisal for taxes, and
4) home Insurance appraisal.
The appraised data sheets using many different sold houses (some same) depends what sold houses are picked. We the buyer/seller in Texas just have to believe. The property value appraised by these four entities resulted in ranging from 1.6M to 750K for the same home within May/09. I was laugh out loud dying from the accuracies of the "market price" in Texas. Funny. each appraisal report are justified "market price" for the benefit of the hiring party.
I can see how this bubble started and collapse. Some properties I checked on the Deed records at the county clerk data base have very interesting records of appraisal manipulations. For example, one property
started with land value loan of $300K on deed 2004,
followed builder had a deed for construction for $950K 2005,
followed by a home 3yr ARM mortgage of 2.2M, and builder released the lien 2007,
followed by a home equity loan of $250K Apr/2008.
This home was listed for 3.8M for sale in 2008. It's now foreclosed for $2.2M on the market. It's really.. by my opinion..worth $1M.
What can you say...non-Disclosure of the sold prices in Texas can really help whatever situation the purpose to be because you don't know, and you just have to believe the RE professionals, right!
I had a real experience on a property about the "Market Prices" with 4 different appraisals within 1 month (May/09). I was under contract. The appraisals are
1) seller appraisal,
2) lender appraisal,
3) County appraisal for taxes, and
4) home Insurance appraisal.
The appraised data sheets using many different sold houses (some same) depends what sold houses are picked. We the buyer/seller in Texas just have to believe. The property value appraised by these four entities resulted in ranging from 1.6M to 750K for the same home within May/09. I was laugh out loud dying from the accuracies of the "market price" in Texas. Funny. each appraisal report are justified "market price" for the benefit of the hiring party.
I can see how this bubble started and collapse. Some properties I checked on the Deed records at the county clerk data base have very interesting records of appraisal manipulations. For example, one property
started with land value loan of $300K on deed 2004,
followed builder had a deed for construction for $950K 2005,
followed by a home 3yr ARM mortgage of 2.2M, and builder released the lien 2007,
followed by a home equity loan of $250K Apr/2008.
This home was listed for 3.8M for sale in 2008. It's now foreclosed for $2.2M on the market. It's really.. by my opinion..worth $1M.
What can you say...non-Disclosure of the sold prices in Texas can really help whatever situation the purpose to be because you don't know, and you just have to believe the RE professionals, right!
- Naima Sumner, "Dallas Ft. Worth PRO"
- Contributions:2847
You would be surprised at how many buyers as asking for the sales price not to be made public even to other Realtors.
It is becoming more difficult to do CMAs in several places especially in the high dollar ones.
I have seen several of the homes here on Zillow showing the "list price" as the "sold for" amount.
Naima
It is becoming more difficult to do CMAs in several places especially in the high dollar ones.
I have seen several of the homes here on Zillow showing the "list price" as the "sold for" amount.
Naima
In most states the county assessor will have that information. Maybe a very few backwards places don't do this yet, and you can certainly read some BS trying to justify it on this link...
- Jim Paulson, "BoiseREbroker"
- Contributions:326
I can not speak specifically to Texas, but here in Idaho we currenlty do not share sold data with the public either.
There are several reasons for this:
1) Many states have used this data to create a sales tax on services and of course most Realtors are against that.
2) The data in the MLS is there thanks to our monthly fees over decades to create and maintain the database so it is proprietary for our members who have been licensed and trained on how to interpret that data.
3) Real Estate is not a commodity and we are trying hard to make people realize that. You do not buy your home by the pound or the sq. ft.! It is not like buying a share of stock in IBM which each and every share of common stock is valued the same. It is not like travel in which each and every seat on the plane ends up in the same destination. It is not like a car in which every 2009 Honda Accura starts with the same base and you just adjust for the changes.
For example, look at the ZEstimates and the value ranges on any home. Pull up your home on this site to see the value range on it and ask yourself if you are willing to sell for the bottom of the range or if you think the range spread is too high? It is good for a base or a benchmark, but for a true valuation of market value talk to your favorite seasoned Realtor or a licensed appraiser.
There are several reasons for this:
1) Many states have used this data to create a sales tax on services and of course most Realtors are against that.
2) The data in the MLS is there thanks to our monthly fees over decades to create and maintain the database so it is proprietary for our members who have been licensed and trained on how to interpret that data.
3) Real Estate is not a commodity and we are trying hard to make people realize that. You do not buy your home by the pound or the sq. ft.! It is not like buying a share of stock in IBM which each and every share of common stock is valued the same. It is not like travel in which each and every seat on the plane ends up in the same destination. It is not like a car in which every 2009 Honda Accura starts with the same base and you just adjust for the changes.
For example, look at the ZEstimates and the value ranges on any home. Pull up your home on this site to see the value range on it and ask yourself if you are willing to sell for the bottom of the range or if you think the range spread is too high? It is good for a base or a benchmark, but for a true valuation of market value talk to your favorite seasoned Realtor or a licensed appraiser.
- Derek Smith, "dereks16"
- Contributions:4
Why do realators have the right to this information but not the public? Doesn't this seem like a racket? And don't say its because they pay for it because that's not a reason. Zillow would pay for the data too if they were allowed to.
I understand realator's want to make a living, but at some point what you do isn't valid for the times. We use to have to pay travel agents, but now we use orbitz or travelocity and 99% of the public benefits from it.
I understand realator's want to make a living, but at some point what you do isn't valid for the times. We use to have to pay travel agents, but now we use orbitz or travelocity and 99% of the public benefits from it.
- real estate mike
- Contributions:2001
I'm not sure what you're referring to? There are plenty of sales prices that are public. The tax assessors website shows most transactions reported sales price. If a buyer wanted this info to be private then it's not our concern. Generally speaking sales prices are public in texas with some exceptions.
Any chance that home sales prices will be made public in Texas?
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