One of our most popular and valuable datasets is our sales and mortgage transaction data. This dataset provides unparalleled insights into property sales, mortgage activity, and market trends, allowing businesses to make informed, data-driven decisions. By tracking transactions across thousands of counties, we compile a comprehensive and highly accurate view of property ownership changes and financing trends.
Over the years, I’ve had the privilege of fielding many excellent questions about our property data. Below, I address five of the most common ones to shed some light on how our data works and what makes it so powerful.
- How come you don’t provide an interest rate for every mortgage?
Great question! Interest rates are typically recorded only on Adjustable-Rate Mortgages (ARMs). Fixed-rate mortgages, on the other hand, usually do not have interest rates publicly recorded. Borrowers review their interest rates during the closing process, where they sign a promissory note. Since the note is not a publicly recorded document, we don’t always have access to that information. However, when we do find an interest rate in the recorded mortgage, we make sure to include it in our dataset.
- Can I link the sales and mortgage transaction file to the property file?
Absolutely! Our sales and mortgage transaction data can be linked to the property file using PropertyID. However, to ensure a clean match, you’ll need to remove any extraneous characters from the PropertyID field. This allows for a seamless connection between the two datasets, giving you a richer view of property history and ownership changes.
- What if the sale and mortgage transaction doesn’t have a PropertyID?
This can happen when there has been a structural change to the property, and we haven’t yet received a new property record from the assessor’s office. For example, if a two-family home is converted into two separate condos, the sales and mortgage transactions for the new condos won’t have an associated PropertyID until new assessor records are available. As soon as we receive updated property records, the transactions can be properly linked.
- How do I know if a mortgage was used to purchase a home?
The simplest way to determine this is to look for sales transactions that have a mortgage amount greater than $1,000. When a sale and a mortgage are recorded within the same transaction, they are linked together, indicating that the mortgage was used to finance the home purchase. This approach helps lenders and analysts quickly identify purchase mortgages versus refinances.
- Sometimes I hear my Account Executive say ‘Valid Sales.’ What does this mean?
A Valid Sale refers to an arm’s-length transaction, meaning the buyer and seller are unrelated and acting in their own best interest. The sale reflects fair market value, making it a reliable indicator for market trends and property valuation.
You might also wonder, “What’s a Non-Valid Sale?” I’m ahead of you! A Non-Valid Sale could be a transaction where a property is transferred into a trust, placed in an LLC, or sold below fair market value. These sales are not included in key analytics—for example, when we calculate market statistics or provide data for newspaper reprints, we exclude Non-Valid Sales to ensure accuracy and relevance.
At The Warren Group, we pride ourselves on delivering the most comprehensive and accurate real estate data available. Our sales and mortgage transaction data is a powerful tool, and by understanding how to interpret and utilize it, you can gain deeper insights into the real estate market.
I hope these answers help clarify some of the key aspects of our data. If you have more questions, don’t hesitate to reach out—I love talking about property data!
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