Thought you should all know that Residex launched a new web site last week called findmeahome.com.au where you can get the residex property explorer reports for free.
Residex have developed a way to get the listings from across the country onto one site without duplications most importantly with their statistically derived values.
I have used it its great. Agents could use findmeahome.com.au to avoid the RP Data feesDonnaParticipant@donnaJoin Date: 2002Post Count: 13
I just tried to get into this site and you need a username and password. I went in to residex and signed up as a free user but have not subscribed to any reports. Do you have to be a paid up subscriber to residex to use this site?
I just took a look because I did not know of any password issues
so I called them
they were down for a bit but all is ok now
Samrudo1phParticipant@rudo1phJoin Date: 2008Post Count: 38
I just had a look at this and it looks interesting. What does it mean though? It seems to give you a price for a house – is this an estimated market value or something else? What is the information based on?
Rudirudo1phParticipant@rudo1phJoin Date: 2008Post Count: 38
Looking at it, some prices seem quite accurate compared to what the houses are currently on the market for in my area, but others seem way out. Some house I have been quite interested in are bang in the middle of the range they suggest and yet I know one house I just bought is estimated at $130k to $209 more than what I have paid for it. (which is around 25 – 45% of the value)
I would be really interested to know where the information is coming from and how accurate it is considered to be.
Here is what Residex say about how they do it all from their site http://www.residex.com.au
The unique Residex database cannot be matched by any public or private organisation in terms of accessible historical data and completeness.
Residex provides information on all aspects of the real estate market, not just relating to price, but also rental yield, growth in prices, analysis of market movements, mortgage design, financial transaction structuring, raising and placing of funding facilities, loan risk profiles, statistical consulting, price estimation and research.
The company is consultant and adviser to state and federal governments on housing related issues including the development of financial instruments to provide funding for housing needs.TerrywParticipant@terrywJoin Date: 2001Post Count: 16,213newbi2Member@newbi2Join Date: 2008Post Count: 227
I tried to find a few address and kept getting "unable to find that property". Tried substituating surrounding suburbs in case it was entered incorrectly to no avail. Oh well.JLMember@jlJoin Date: 2007Post Count: 110
So just out of interest, we have had a property on the market for over 100 days. We listed it at 229k. The highest offer was 215k and we thought about it for a couple of hours and in the mean time the offer was withdrawn. The next highest offer was 195k. This website said the property was worth within 2k of what we advertised.
JLEdvico_kvnMember@edvico_kvnJoin Date: 2008Post Count: 46
I agree with rudo1ph, while some price estimates seem to be reasonable, other estimates appear to be way off the mark by hundreds of thousands of dollars. Not sure whether to take the residex estimates seriously or not.
In any case, the google map feature is really handy for home-buyers.