Introducing the MLS
How do I find out what homes are available? Introducing the MLS
By far, the best source of homes on the market is the local Multiple Listing Service (MLS). Brokers throughout the area you’re looking in will list properties for sale in a common “book” or database. Your agent will have access to this listing and can quickly provide you details on homes that meet your specifications. Because a great deal of information about each property is provided, you can quickly and easily select homes by number and size of rooms, price-range, neighborhood, square footage, and many other variables including financial info such as assumability, owner financing and annual taxes.
The Internet is also becoming a valuable source of information for new home buyers. Some areas have full MLS listings on-line and many are searchable electronically using the same criteria as mentioned above. Shopping the Neighborhood Quality of life is a function, not only of the home, but of the community. The general appearance of a neighborhood tells a lot about the people who live there, but there are some other things to consider:
• Proximity to schools, shopping, libraries, hospitals, churches, and other community services.
• What zoning regulations apply. This can be especially important if you plan to make improvements to the property after you buy.
• Planned construction projects such as new subdivisions, parks, commercial construction, infrastructure, etc. These can dramatically affect property values down the road
• Transportation
• Trends in home values -- are they rising or falling?
• Quality of schools, public recreation, etc.
Your agent should be able to fill you in on some of the details that aren’t obvious, but you can also learn a lot by talking to neighbors, and by visiting schools and other public facilities.
