For those investors looking to buy in Philadelphia, the city just made things easier with the launch of there new Real Estate Transfers website (https://data.phila.gov/visualizations/real-estate-transfers) which includes data visualizations.
Philly.com has some great insights into what the tool is going to offer.
The Real Estate Transfers site, which debuted Friday, makes records searchable by address, giving prospective home buyers a look at the life of the property over the last 20 years. The site currently dates back to 1999 and offers 3.7 million records.
Types of records include documents, document grantors and grantees, monetary values of the property, and transaction dates.
This is the first time getting such data on a Philadelphia property didn’t require the use of Atlas, which was unveiled almost a year ago, or a visit to City Hall. While just one transaction could be checked at a time through those methods, the new tool gives a fuller span.
In addition to finding out about a single property, the new tool also reflects greater property trends in the city. A chart on the homepage showcases the number of monthly document transactions month by month since 1999, as well as bar charts that break down documents by type.
One of the greatest challenges as a real estate investor is getting access to data to drive your decisions. From those looking to fix and flip to buy and hold, as many a savvy real estate investor has pointed out.
“You make money when you buy…not when you sell.”
Which seems counter-intuitive as you get paid when you sell, but the underlying principle is that the price you pay for the house or property is eventually going to determine how much profit you will potentially gain or lose.
Accessing this new dataset from the City is going to be a great way to better drive one’s real estate investments.
Below are a few screenshots from the new site. You’ll see it offers some excellent insights into investing in Philadelphia houses.