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 youre 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 arent obvious, but you can also learn a lot by talking to neighbors, and by visiting schools and other public facilities.
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