Real Estate Search Direct

Do you know what to look for in the real estate property listings?

When Homer Buyer and Ivana Newhouse started looking for houses they began their search as 85% of all home buyers do now.  They began their search on the internet.

On the internet they found hundreds of sites that had real estate property listings and thousands of properties for sale.

They found properties “For Sale By Owner” as well as properties listed with a real estate broker.

There were single family residences (SFR), condominiums, town houses, single family attached, cooperatives, manufactured homes.

There were also many different neighborhoods to consider.  Some were in gated communities.  Some had a home owners association (HOA) and some even had two.

There were various combinations of bedrooms and bathrooms, which didn’t always seem to have anything to do with the square footage of the property.

Most had a photo and some had several, but it wasn’t always easy to tell what the property looked like from the photos.

There were so many unfamiliar terms and abbreviations: REO, foreclosure, short sale, subject to lender’s approval, Owner will carry (OWC).

Real estate property listings were all so new to them and a little overwhelming.  There were so many possibilities.  How could they narrow down the list?

• Start by knowing what price range you can afford.
• Identify the type of property you want.
• Determine how many bedrooms and bathrooms
• Locate neighborhoods where you can find the type of home you want in your price range
• Make a list of features and rate them 1 to 5: 1=Necessity, 2=Desirable, 3=Don’t Care, 4=Undesirable, 5=Deal Killer

The first step is to determine what you can afford.  See How Much Can I Afford for more details on this.  When you know your maximum purchase price and down payment you can easily eliminate any properties that are too expensive.

You may want to set your minimum price above a certain point if you want to eliminate rentals, and mobile homes.  This point may vary depending on the area you are searching.

How many bedrooms and bathrooms are required?  Do you have children or are you planning to have?  Do you need a guest bedroom for visiting friends and relatives?

Do you need any other rooms such as a home office?

Do you need a garage? How many cars?

The type of property you want will probably be affected by what you can afford.  If it is easy to find single family residences in your price range, most people prefer this option.

You may prefer condominiums if you want to live in a big city or don’t want to take care of a yard.

Use the property type, number of rooms and price range to eliminate some neighborhoods.  If you don’t find your desired property type or price range in a particular neighborhood, look elsewhere.

Make a list of features you must have or must not have.  If you can’t have stairs because you need a wheelchair, eliminate all two story homes or condominiums with stairways.

If you have to have a home office or a two car garage list that, too.

Other examples are:

• A swimming pool
• Garden space
• A Walk-in closet
• Spa bathtub
• A Library
• Nearby shopping
• Good schools
• Parks

Use your list to eliminate properties that don’t have things you need or have things you don’t want.  Be careful not to confuse things you want with things you need.

To begin your property search visit the Real Estate Search Direct Search For Properties page.

Allen Davis
RealEstateSearchDirect.com