Best Deals in Eau Claire Real Estate
Posted Feb 3, 2009 @ 10:34 pm, Viewed by 470 Visitors, Read 492 Times.I've been getting a lot of requests lately for people asking for the best deals in town. And because I'm a numbers guy, I've been trying to come up with a good way of analyzing homes for sale to determine "the best deals."
I came up with this simple but effective solution:
- Obtain all Eau Claire property assessment records on CD
- Dump all active listings from MLS into a file
- Bump the two files up against each other
- Compute the list price vs. the assessed value
- Take the top 20 deals and post them on my website.
We'll see how it goes. Many of the listings in the top 20 are distressed in one way or another. Some may not be good deals due to needing TLC. However, I'm confident there will be some gems uncovered by this simple analysis.
In the future, perhaps I will just cherry pick a few interesting findings...Or maybe it will become my own weekly hotsheet!
Click here to view the Best Deals in Eau Claire Real Estate!
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You can buy a house for under 40k in your market - WOW!!
Actually we have that here too (houses for 40K, that is) but there are not many and most are probably tear-downs! Also, I was shocked at what a huge discount to the assessed value (at least seemingly, from the data displayed) that properties are going for in the Eau Claire market. We're not seeing that frequency of deep discounting here in Madison, WI. In fact prices on single-family homes in our market hardly fell at all from '07 to '08 (altho volume was down over 19%).
$40k houses around here are not pretty, but they are available.
Jolenta: Actually, the median sale price has not fallen in Eau Claire County from 07-08. Take a look at this sheet showing stats from our MLS area if you wish:
http://www.eauclairebyowner.com/audio_video/2007-2008Stats.pdf
I bet if you did the same analysisand sorted them by the best deals, you would get similar results. Let me know if you do it!
Mike,
I'm not surprised the median price in Eau Claire didn't fall - fall any further and they'll be giving the homes away!
Thanks for the suggestion. Yes, in fact, I would be interested in doing the same analysis. Do I ask the City of Madison to provide all the property assessment records on CD? How did you get ahold of that data?
Jolenta
Jolenta-
Contact the City of Madison Assessor's office and ask if they can put the tax roll on cd. Eau Claire charged me $100. It's public data, so they need to provide it on request (but they are allowed to recoup their costs in providing the data).
Ahh Madison, my abandoned hometown. Had to leave; too populated.
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I believe that real estate consumers do not have enough choices, and I am on a mission to solve that problem in my town of Eau Claire, Wisconsin. Read More
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Interesting analysis. Those are some tremendous numbers you've got there in your market - WOW!