Find the Right Comps by Using Historical Transaction Data

September 23, 2022

Data is digital gold for real estate investors. Having exclusive insights before they’re released to the general population therefore offers a distinct advantage. Sundae now offers a feature called Historical Transactions to give investors better comps and insight into the market in live time.

Real estate investors live and die by data. Historical transaction data is how you make informed decisions about what a property is worth, how much to offer for the property, and what kind of profit you’ll make from the transaction. It even helps you decide whether to take a buy-and-hold approach or if it’s a fix-and-flip scenario.

What if you had Sundae’s Marketplace data to inform your offer strategy and underwriting?Now, Edge members have access to our Historical Transaction feature. This reduces the risk of creating many of the big problems that real estate investors face. Here’s how it keeps investors informed and ahead of the curve.

1. Predict sale prices more accurately

When you have access to Sundae’s Historical Transactions feature, you’ll see recent comps on the platform in nearby areas. The Multiple Listing Service (MLS) or other traditional real estate market data may not be applicable to Sundae’s as-is offerings. It’s always better to compare apples to apples. So having access to recent transaction information allows real estate investors to more accurately predict how much they’ll need to bid to win the property. Of course accurately predicting the winning bid price helps you run accurate numbers on your investment. To get a good sense of the potential return at the end of the property rehab process, you’ll want an accurate purchase number and add your own estimated rehab costs. Then, you can decide whether or not it’s a good choice to pursue a property based on your desired ROI.

2. Stay one step ahead

Historical Transactions data can help real estate investors stay ahead of the curve. Want to know how much a property is sold for before it’s published? Sundae’s Historical Transactions data does just that. When competing against other flippers or investors in general, this offers a distinct advantage. You get real-time data rather than information that’s delayed until it becomes part of the public record. That could be the difference between winning and losing a deal. Usually the person with better information wins. With up-to-date data, you can find trends and move faster when you have the info first. When competing against other flippers or investors in general, this is a real edge.

3. See the data on maps for easy geographical comparisons

Everyone knows the real estate adage “location, location, location.” It’s imperative that you factor in location when it comes to drawing comparisons because not all parts of town are the same. Even if you found a similar house with the same square footage, but in a different neighborhood, you could be rolling the dice with your comparison. Finding a house with similar dimensions in the same area allows you to more accurately predict a sale price and what the end buyer is willing to pay. For example, a 3-bedroom, 2-bathroom, 1,200-square-foot house with a garage. Though Historical Transactions won’t find comps for you, it does make finding them a lot easier. It offers access to recently acquired properties in nearby areas on a map so that you’re able to get granular with your comparisons.

For access to transaction data, try Sundae’s premium membership

To see real-time Historical Transaction data, you’ll need to be a Sundae Edge member. Those in each of the Edge tiers can see details about a property that closed as soon as the day before, including sales price, photos, and square footage.In contrast, Essential members and non-Sundae investors have access to this information in lagged time. They also have to search public records or wait for when the information is published to a site such as Zillow. This tends to take several weeks from the date of sale.

As with all of Sundae’s offerings, expect its best-in-class tools to help secure properties with speed and transparency. You’ll be able to manage your purchase entirely from your computer or iPhone. Edge membership turbocharges property investing as it delivers a quality end-to-end investment property buying experience.

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Erin B

Erin Behan is a writer and editor covering real estate investor strategy for Sundae. She's lived in L.A., New York, and Atlanta and currently resides in Portland, Oregon, where she writes and edits for a number of outlets, including WebMD, Farmers Insurance, and Vox Creative. She spends her free time hiking with her two boys, snuggling with her cat, and enjoying the best of the Pacific Northwest.