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Document TrendsWhen you have identified an area or two where you prefer to work, visit the tax assessors office and property appraisers office for the area. Ask to see a list of recent previous sales in the area. For a twelve block radius, check out what has been happening with sales. Where have houses sold, what were the prices, and what are the taxes. All this information will be helpful when making the decision on which property to buy for a flip.You may already know this information if you live in the area and have been monitoring what has been happening. But rather than operate on word-of-mouth, get the facts from the proper municipal official. This is public information. Use it to your advantage.Go back 24 months in these records. Use a map. Place a dot on the map where ever a property has changed hands. Too many sales in an area may be a sign of something you want to know about. Get a graphic representation of what sold for how much and when. This will help you establish a real estate trend.
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Prepared 2006-2011 David Ullian Larson
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