How To Find A Rich Single Landowner

Posted by: Chris Palmeri on June 29, 2006

Long before Zillow.com came on the scene with what often seems like wildly inaccurate estimates of home values and Google.com made a big splash with satellite photos of your neighbor’s pool, PropertyShark.com was slugging away in the online real estate information game. The company, founded three and half years ago by real estate investor Matthew Haines, lacks the star power of Zillow.com, created by Expedia founder Richard Barton, or the brand name of Google, but under ceo Ryan Slack, PropertyShark has been coming up with creative content. Earlier this year, it photographed every building in Manhattan. The site also lists air rights available above the buildings, neighborhoods where liquor licenses are prohibited and areas where subway usage is greatest, all useful perhaps if you are planning on building a skyscraper, or opening a bar or store somewhere. It also has phone numbers for property owners, gleaned from deed records. Also intriguing, PropertyShark has culled Census data to highlight neighborhoods where the most single men live. Again, this could be helpful if you’re looking to invest in retail or rental properties. It’s also an example of how technology is providing us with new levels of voyeurism and how smaller Web sites can create something unique to attract visitors. Some of PropertyShark’s features are free, but more detailed information requires a subscription.

Reader Comments

real estate investing

July 16, 2006 3:10 PM

Most of the TX data seems outdated. But the site does bring to note privacy of investors. I can't really comment on the NY data but I do have some properties in TX.

Investors should look into land trusts, as mentioned on CNN a while back (http://money.cnn.com/2004/07/09/real_estate/buying_selling/land_trusts/).

LAURA SCHUZ

July 26, 2006 3:40 PM

I clicked the spot for the find payments for interest rates last month.
I never got the info because they wanted to much personal info I didn't want on the web. I never hit the submit spot.
BUT I got voice mails from 3 different phone #"s 2-4x a day for 3 weeks. and now the #'s are 3 extra numerals and my phone won't dial them back. This caused me to be bothered by all these calls that I couldn't call back and tell them to leave me alone. ALL this hassel bacause I wanted to see if a loan was plausible at this time.

Dale Bennington

August 11, 2006 10:57 PM

To MR Peter Coy.

I my self live in Florida about 40 miles north of Tampa. The area that we live in is mostly low income average pay $8.00 hr. and more retires than most parts of the State. and yes our home prices shot up just like other parts of the state.
As we have seen some of those that they call real estate speculators are now dropping there prices on the homes they built by $40 to $60 thousand jsut because they misst the hot market. In our county and in Pasco county just south . Their are over 8000 homes on the market for sale and this dosent even count the for sale by owners and the 1000S of homes ther still trying to build.

I personaly am a REAL ESTATE buyer seller investor consultant her where I live and one thing I will say is this the one thing that I can see is that the state of florida is trying to drive out alot of the retires and some of the lower income people. In our opion why because for one thing there is no state taxes here in florida and like all businessess once something becomes a liability what do you do you get ride of it.

Due to the fact that the pay scale in florida is about 15% under the national average then why would any working American want to come to a place trying to find a job and get out of debt and only find themselves stuck with higher cost and deeper in debt.

The sad Thing is this there is a program that has been around for over 30 years that pertains to investing in Re.and no these are not REITS.
This investment gives monthly returns on the peoples investment capitol plus at returns ranging From 12% to 15% apr yields and up.

This program is even approved by the IRS To use your IRAS AND OTHER investment capitol can be used with out penalty.

Now for the real sad thing for the people that we try and educate here in Florida and yes we use to do this in OHIO . in fact we have been doing it for over 12 years. The minute you try and tell people and show people of how they can change there lives with this investment they look at you like your nuts. May be we should just quit trying to help people and will just have they those that would like to come and join us that want to make Money and set back and buy there home at below market value or at forclosure just because they dont want to listen and learn how to save there homes and profit at the same time.

Thanks for letting us vent our frustrations.

Sincerly D Bennington Florida

If you would like to learn more feel FREE to contact us. Email Freedom8246@aol.com

norman ravitch

August 16, 2006 8:41 AM

With all this talk amont Federal Reservist and others about fighting inflation -- have they considered that a depression would indeed end inflation?

Helen Price

August 24, 2006 3:54 AM

That's really amazing what this site offers and the imagination of the guy leaves me speachless.

Concert tickets

September 2, 2006 9:02 PM

As we have seen some of those that they call real estate speculators are now dropping there prices on the homes they built by $40 to $60 thousand jsut because they misst the hot market. In our county and in Pasco county just south .

curtis johnson

September 4, 2006 2:38 AM

In response to "Nightmare Mortages" by Mora Der Hovanesian, I think this should be "must reading" by every prospective home buyer in America. I have a ARM, but it is not the option ARM. It is a 3 year fixed ARM that will adjust in August 2008. I pay full interest and principle each month-no negative amortization. I have allways refused to consider paying anything less than all interest due each month. I feel that I will be ok, being fully aware what I am dealing with. Thank you. Curtis Johnson, Sacramento.

tiddle

September 5, 2006 12:42 PM

Re "Nightmare Mortgages", it sets me wondering: Should it come to anyone's surprise when you agree to pay for a teaser rate, knowing that it'll become market rate when teaser rate's over, and the interest rate goes up? Does any of these people who complained bother to check up on the dictionary to find out what teaser rate means? There is no doubt that there are plenty of predatory mortgagors out there, but there is no excuse for being ignorant or stupid (as in everything else in life).

Peter Coy

September 6, 2006 3:37 PM

People interested in discussing the "Nightmare Mortgages" story in BW should check out the guest post by the writer of the story, Mara Der Hovanesian, which was posted Sept. 6. It's called How Toxic Is Your Mortgage? Here's a link: http://www.businessweek.com/the_thread/hotproperty/archives/2006/09/how_toxic_is_yo.html

Eden

October 2, 2006 3:06 PM

Six-and-a-quarter million dollars an acre is not unreasonable for ocean view--anywhere. Seems like a bargain to me, a noted real estate observer.

David

October 4, 2006 10:34 AM

we have seen some of those that they call real estate speculators are now dropping there prices on the homes they built by $40 to $60 thousand jsut because they misst the hot market. In our county and in Pasco county just south

Bobby

October 22, 2006 5:47 PM

Real estate is a notoriously difficult industry for newcomers. The NAR reported in 2005 that those who have been in the business for two years or less had an average income of only $12,850 a year. Long-time brokers - those with at least 26 years of experience - had an average of $92,600.

Security Cameras

November 1, 2006 9:50 PM

Inorder to determine the fair market value(FMV). As a real estate investor, you can always buy properties at the FMV. you can always find properties that are priced below FMV, regardless if they are existing or if they are a preconstruction project. The best way to determine FMV is to work with someone already familiar with the area or determine yourself through local websites showing recent sales histories.

maria silverio

April 17, 2007 12:38 PM

yo quiero empezar en bienes raices ahora, Que ustedes me recomiendan?

Insurance

June 1, 2007 5:05 AM

Does any of these people who complained bother to check up on the dictionary to find out what teaser rate means? There is no doubt that there are plenty of predatory mortgagors out there, but there is no excuse for being ignorant or stupid

Miss.Bolormaa-Altangerel

February 14, 2009 2:00 AM

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About

BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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