Redfin On The IPhone - Uncensored

Redfin just came out with the IPhone application showing all kinds of information. The problem is that it is showing all of the recorded documents, (liens, Notices of Default, Quit Claim Deeds), that have recently been recorded at the individual County Recorder's offices across our nation, as "Sales and or Sold properties".

My clients were riding around with me checking sold properties as well as active, just to see if the asking prices were in line with the current asking prices. Checking recent sold comparables is always a useful thing to do, right???

Here's an example of the problem that some internet sites are creating: This property located at 29045 Via Norte is showing as a sold property that sold for $27,272 dollars on August 20, 2009.

By investigating this recording, I was able to find out that this amount showing as sold was actually quit claim deed between two family members. It was not a recorded sale of a property between a buyer and a seller and cannot be used as a comparable as comparable properties that are actual sales are going for much more. Approximately $275,000 more!

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Redfin, Zillow, Trulia, and all of the other Real Estate sites that consumers use to search for properties are the same as far as where they get their data. They all get it from the County Recorder's office and label it all together as a property that is either sold or for sale.

Consumers need to be aware that when all of the information is mixed together it cannot be relied upon as "Pure MLS".

The same is true when searching for active listings. They are all mixed together and cannot be separated out from properties that have been sold between a buyer and a seller.

Other recordings that are picked up as for sale or sold properties are:

• Notices of Default
• Mechanics liens
• Tax liens
• Refinances
• Home Equity Lines of Credit

There is still no Real Estate Search capability as accurate as Multiple Listing Services that are used by professionals who pay for and are registered to use the MLS.

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Want more proof?

Here it is! While researching today I found this exchange between a consumer and one of the Redfin Czar's.

Here's another:

This is the answer from the Redfin CZar, actually admitting there are issues with the search capabliities: He mentions in his explanation that they get information, "from a third party and that they do not distinguish from actual sales and other types of transactions. (Like I mentioned in the billeted items above).

Again, there is still no Real Estate Search capability as accurate as Multiple Listing Services that are used by professionals who pay for and are registered to use the MLS.

Use Redfin, Trulia, Zillow or a site similar to these if you want to play and experiment with real estate information but call a Realtor who belongs to a "Multiple Listing Service",if you would like complete and accurate Real Estate Information for the area you are serious about making a purchase in!

Please call me for information about Real Estate in Southwest Riverside County.

Jane Grant ~ DRE: 01109492
Southwest Real Estate, Inc.
Telephone: 866 621-0155

Website: www.soreal.biz
Additional Website: www.servingtemecula.com


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