04-08-2008 08:22 PM
Where could I get more information on this subject?
04-09-2008 05:32 PM
Redfin Open Book
04-09-2008 05:43 PM
Redfin Corporate Trainer
04-10-2008 03:38 PM
First, there are some valid transactions valued at $0. One example is "quit claims", transactions that are associated with divorce situations. Our intent was not to include "quit claims" records on our site but we discovered an issue where some slipped through. We are working on that fix for the upcoming release.
Second, we found that in some situations our sold-property feed included records that had a valid sold date but no price at all. In other words, the feed was saying "we know the home sold on such-and-such date, but we don't know the price". We were unintentionally interpreting this as "we know the home sold on such-and-such date for $0". We will be fixing this problem as well in the next release (by not including these records in our similars comparison).
Redfin Open Book
05-14-2009 04:33 PM
1 advantage I know of is an older home say 1904 will be more xpensive to insure than a home that was remodelled.renovated/built in 2008. thats a fact as I just had our new home actullay a home that was originally built in 1904 and extensvely remodelled/rennovated to the studs (new main systems etc) and is insured as a 2008 home so our home insurance was cheapoer by more than $400....
2008 as that was the completed date of the rennovations.....
08-15-2009 02:42 PM - edited 08-15-2009 02:48 PM
While there is no legal definition to Effective Year Built, it is commonly used to indicate the year to which the structure met building codes. For example, a home built in 1920 may have had major remodeling or been destroyed and entirely rebuilt. If during the remodeling process the services to the home (plumbing, heating, cooling, electricity, etc) as well as structural standards (load bearing walls, earthquake requirements, roof securements, etc) were all brought up to the current codes of the time, then for that 1920 home the Effective Year Built may be 1980. Of course, if the structure was rebuilt from the ground up, it will meet all current codes for that year.
For the purposes of insurance, the leading causes of loss are electrical, plumbing, heating/cooling, roofing and foundations. If the year these were all brought up to code was 1992, then that is the year built for insurance standards, even if the perimeter walls were constructed in 1940. Documentation would be necessary to prove the claim of effective year built, such as permits and approvals by local authorities.
In most databases, in order to have another year entered as Effective Year Built, there must have been building permits and completed inspections shown on record. The most common reason for a different Effective Year Built is a total house fire.
08-17-2009 04:11 PM
a sales price of 0 dollars usually means, that another person was added to the title, or maybe in a divorce one person gave the house to the spouse, or it was put in a trust, could be a lot of things, but usually an internal transaction. It was not sold really for 0 dollars