The CoreLogic database contains data for each property in counties throughout your MLS region. The database combines assessor’s (property characteristics) data, recording data (sales and mortgages), property owners’ mailing addresses and phone numbers, census tract numbers and latitude and longitude for each property.
The staff at CoreLogic makes considerable effort to update the database in an accurate and timely manner. Special effort has been applied to make the property addresses in the database as complete as possible. One result of this effort is the completeness of zip plus 4 data available through the database.
Even with this extensive effort, there will be occasional address and other data errors in the database. We encourage each user to bring such errors or omissions to our attention and we will make prompt efforts to verify and correct the data as necessary.
The sales and mortgage history contained in each county’s database will depend on the time period in which CoreLogic has been covering the specific county. In some counties, coverage began many years ago, while in others, the coverage is more recent.
The database is updated frequently (usually weekly) with each newly recorded sale and mortgage. The sales and mortgages are carefully matched to the properties in the database. The annual update with finalized assessed values also includes property characteristic data collected from the county.
The record date is the date on which a deed or mortgage was officially entered into the county register’s system. The settle date, which is the date when the grantee and grantor executed a deed, precedes the record date. In fact, if the closing attorney or agent fails to promptly present a deed for recording, the gap between the record and settle dates may be substantial.
There are variations on Land Use Codes as follows:
County Land Use Codes: Most commonly, land use codes are assigned to each property by the county assessors and indicate the primary purpose of the improved or unimproved property. Realist.com provides a drop down list of the Use Codes available from the county you are searching.
State Land Use Codes: In addition to county land use codes, some states maintain a land use coding system that designates the primary use of each property. In cases where both the county and state feature a land use code, Realist features both.
Universal Land Use Codes: Finally, since coding systems vary county-to-county (and state-to-state), CoreLogic offers a “Universal Land Use” coding system that enables users to employ a simplified and consistent coding system for their searches in all counties. The Universal Land Use code is routinely featured on Realist searches and data presentations as a drop down list.
The property characteristics are obtained from the county assessment records. Some of the data, such as the year built and the building area, may be estimates contained in the county records.
A blanket sale or mortgage is one for which more than one property was conveyed or financed by a single instrument. For example, a homeowner who holds title to his home and a vacant lot next door, may convey title to the separately assessed lots through one deed. Since blanket sales may not be suitable for comparables, you may wish to eliminate them when you search.
The loan to value ratio is the percentage of the home’s purchase price represented by the mortgage amount. For example, an LTV of 100 indicates that the mortgage was 100% of the purchase price and an LTV of 80 indicates that the mortgage was 80% of the purchase price. Note that the LTV is calculated separately for each individual mortgage rather than the aggregate of all mortgages against a property.
If the building area is an estimate, the price per square foot is also an estimate. Both are based on other data elements provided by the county.
CoreLogic RES updates its databases quarterly to reflect homeowners who have registered with the Direct Marketing Association to not receive mail solicitations. This is indicated by “No Mail” appearing directly after the address.
You can elect to enable Realist to generate mailing labels/records for addresses registered on Do-No-Mail Lists, but will be prompted by a legal agreement stating:
“By turning off this filter you may be contacting property owners or residents who have registered with certain local, state, or federal agencies to receive protection from unwanted direct marketing mail or phone solicitation. Having read and understood this paragraph, do you wish to override the standard consumer opt out flags of this service?”
CoreLogic RES updates its databases quarterly to reflect homeowners who have registered with the Direct Marketing Association to not receive phone solicitations. This is indicated by “No Call” appearing directly after the phone number. These addresses are automatically removed from labels produced by an export.
Census tracts are small, relatively permanent, statistical subdivisions of a county. The primary purpose of census tracts is to provide a stable set of geographic units for the presentation of decennial census data. Census tracts boundaries are delineated with the intention of being maintained over many decades so that statistical comparisons can be made. They are identified by a four-digit number and may have a two-digit numeric suffix.
Realist.com provides access to the FEMA flood panel, the date of the flood panel, and the code indicating whether or not the property is determined to be within a flood zone. The flood zone code “X” is very common; it indicates that the area has been surveyed and is not deemed to have a flood risk. The flood zone code “C” also indicates that that area is determined to be outside the 100- and 500-year flood plains. Other codes may well indicate that there is flood risk associated with the location of the property. For complete flood information, contact a flood determination specialist.
A sale of property used as security for a debt, to satisfy said debt.
A notice of default serves as a public notice that a loan is delinquent and that the foreclosure process has been initiated by the lending institution.
A Lis Pendens serves as notice that a loan is delinquent and that judicial activity has been started to initiate a foreclosure of the property.
The Final Judgment serves as authorization by the court for the lending institution to proceed with the auction of the property. This document may include auction details such as location, opening bid amount, etc.
The Notice of Trustee’s Sale serves as public notice that the auction of the property will be taking place. This document may include auction details such location, opening bid amount, etc.
In some counties, the county or local taxing/assessment authority establishes a market value for taxing purposes. The market value may be set by evaluating the sales prices of similar properties in the area either via a site inspected appraisal or automated means. For precise information about the calculation of a market value, please contact the local taxing/assessment authority.
In some counties, the county or local taxing/assessment authority establishes an appraised value for taxing purposes. The appraised value may be set by a manual appraisal however, for precise information about the calculation of an appraised value, please contact the local taxing/assessment authority.
An assessed value is a value placed upon a property by the local taxing/assessment authority for property tax purposes. Generally, this is the value on which taxes are based however each individual taxing/assessment authority has specific guidelines and laws for calculating their market, appraised, or assessed values. In addition, many states or counties have laws governing assessed values and how much they can increase on a yearly basis. (e.g. Proposition 13 in California).
The universal value field displays the most likely value provided by the local taxing/assessment authority regardless of whether it is a market, appraised, assessed, or transition value. Depending on the local taxing/assessment authority, this field will be populated with the market, appraised, assessed or a transitional values (in the aforementioned order)