INCLINE VILLAGE REAL ESTATE: REALTY TRAC EMAIL NEWSLETTERS REGARDING INCLINE VILLAGE FORECLOSURES

Thursday, February 17, 2011

REALTY TRAC EMAIL NEWSLETTERS REGARDING INCLINE VILLAGE FORECLOSURES

Realty Trac broadcasts notices of real estate foreclosure filings via their email newsletters. The entries contain property addresses and aerial photographs obtained from a mapping service and serve as a teaser to click through for more information. The business model entices you to sign up for their subscription service.

Generally, most of the filing information is available free online at the county recorder's website. At least, that is true for Washoe County which contains Incline Village.

At one point in my life, I worked for a tech biz named Transamerica Intellitech. They were based in Sacramento and were a division of the large insurer Transamerica. I sold Intellitech's public records bundled products to folks not unlike RealtyTrac. Intellitech's data consisted of county property ownership records plus government demographics and flood insurer data. More specifically, data included were; ownership records including the tax bill mailing address, property tax amount, assessment amount, bedrooms, baths, garages, lot size, fence, tax payments, improvement characteristics, document numbers, parcel maps, demographics and much more. Today most MLS's have the data. Aerial mapping services were just coming into their own and were expensive at the time.

I sold to customers such as government, commercial brokers, residential brokers, developers, investors and mass marketers. They all needed detailed ownership and characteristic records. Merchandisers were keen to have the data because it could be stratified for market targeting. Government found it easier to buy the data from Intellitech than requisition it from other departments. It contained a better user interface and was easier to search. Lawyers even used it to run down hidden assets in divorce and child support cases.

The year was 1999. Think of what they know about a piece of property now.

I will not bore you with the details, but suffice it to say, in this age you do not have to pay RealtyTrac to gain access to the basic ownership and document filings on a distressed property. Just Google, "Whatever County Online County Recorder Records," and you will probably find what you need. You may have to register to gain access but if you really need to read filed documents on a property you are considering purchasing it will be worth the effort. The records in Washoe County are updated very near real time.

Now, if I wanted to sell home improvements to doctors earning between 200 and 400k per year, who owned a parcel at least one acre in size, that is fenced and in a flood zone... or if I wanted to discover who had closed on a home yesterday and may be in the market for new appliances, painting or a lawn mower... who should I call for target marketing services? Those two scenarios are just two of hundreds that could put the data to work. Most businesses could use public records data to better understand their markets. Sorry about the massive sentence. Blogging can be ugly, but it is usually sincere.