I have encountered some problems when I tried to include the market value in my DataTree advanced search.
When I included the market value in the search of the availability of the data in Anderson County, SC, the total count was 0; when I removed this criteria, the search result showed that there were 788 data in this county (Please refer to the screenshot below). The same thing happened 13 counties that I have chosen in three different states.
Yes, Seth has mentioned this in his training video, the solution he offered is to remove this market value.
But the market value is an important filtering criteria, so how can I include this parameter?
I reached out to my account manager at DataTree, here was his answer:
The “Market Value” on the advanced search is generated by their own algorithm by pulling data from market resources such as Zillow and Redfin, if this data is unavailable, the result will be zero or very small. NB: this data is not from the county.
He suggests that don’t put any value in the “Market Value” tab, instead, put a value in Assessed Land Value under Assessed Information tab. This data is from the county.
Here is the screenshot when I done that, and this resulted a total count of 788 results.
From the search I have done on the county website in TX and SC, the assessed value and the market value seems the same. I understand that this two figures varies depending on how each individual county sets up the benchmark.
My questions is: how can I include the Market Value as part of the filtering criteria in DataTree? Do you think the solution from the DataTree is the right approach? (they use the Assessed Value instead of the Market Value)
Thank you very much and any input would be appreciated.
@michaelw-w Hi! I just fınıshed my 72 hrs trıal on data tree and I notıced the exact same thıng…and ıt happens also quıte often. yes, you can stıll probably use Appreısed Land Value or Market Land value ınto the assessor ınfo but of course they2re stıll comıng from the County where 9 tımes over 10 the market value ıs equal to the Assessed value.
Remaınıng optıons?
use what you have (the assessed value or appresıed land value)…better than nothıng.
pıck another county
exclude the fılter (but you may come out wıth too many propertıes out of your target).
I would personally go for optıon 1 but before that I would gıve a look at the average dıfference (for a bunch of propertıes…at least 10…) between the market value you can assess from zıllow and the assessed value from the county. Once that you ıdentıfy thıs ¨delta¨ you can roughly have an ıdea of the numbers you want to wrıte ınto the Assessed value fıelds on data tree to get at least close to the market value that you want to target.
Does thıs make any sense?
@arturo Hi Arturo, thank you for your input. I think I will go with the assessed value for the time being and try to figure out the relationship between the assessed value and the market value in that particular county.
I solve it by not using it. I use real estate websites and PRYCD.com to determine market values and then base don market value per acre, I pull data (from DataTree directly or via PRCYD.com) based on acreage ranges. I make my offers based on the price per acre from the comps.
I solve it by not using it. I use real estate websites and PRYCD.com to determine market values and then base don market value per acre, I pull data (from DataTree directly or via PRCYD.com) based on acreage ranges. I make my offers based on the price per acre from the comps.
Thank you for you input, Karl. I was wondering if you could share your experience with PRYCD.com.
@karljames that’s very interesting : so what you do is to determine the average price per acre through PRYCD, Zillow etc and from there you go and target on Data Tree only the acreage that should fall into your budget, according to your numbers…did I get it right?
