Re: foreclosure aggregators?
Posted by steele in minnesota on November 29, 2007 at 08:10:48:
In Reply to: foreclosure aggregators?
Posted by Cassidy on November 28, 2007 at 19:55:09:
No, Cassidy, they don't have people at every county. Not even close. And yet most will make claims of having up-to-date information that would require just that. If they were telling the whole truth and not just puffing up their sites.
In doing some research on the subject most seem to be tapping into the limited county inline records. That and there seems to be some sharing of data. But is it usually very incomplete data once examined closely.
The long and the short of it is that the data is usually poor and not timely. Now some are stronger in certain areas than others. Or weaker.
For example, in my state of Minnesota RealtyTrac (often touted as the best national site or at least the most often quoted)is horribly weak in it's bank owned/REO section. In fact, it is wrong some 90% of the time. Yet, they make all kinds of claims regarding how great this info is.
Now if a site is relatively strong in pre foreclosures that tends to suggest to me that the data is out there for anyone to tap into. You just need to know where to look.
As I have stated before if you are looking for this type of info don't subscribe to such sites. Instead first look to see if your county(ies) has any kind of internet reporting. Here in the Twin Cities of my nine county metro area, three counties have some form of preforeclosure reporting. But you need to know where to look.
Otherwise you can go to the county on a regular basis to check the latest records (all there for public viewing). Or you can find a local reporting service that does have someone down there every day (or whatever posting period that county has). Yes, most will charge by the county and it will be much more expensive than any national site. But if you use the data and are getting fresh info it will well be worth it.
Steele
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