What to Look For When Perusing Real Estate Listings
Are you attempting to search for a new home on your own? If so, you're going to be doing plenty of searches each day looking at homes on the market. Here are some things to look for when checking out real estate listings.
1. Listing Date
Find out how long a home has been listed on the market. This can give you a good idea about if it's going to be in high demand or not. Sometimes, a home is listed with the date it went on the market, or it will be shown as the listing market time. This is how many days the home has been listed. Keep in mind that there are some tricks that real estate agents can use to make a home look like it is a new listing. They may take the home off the market for a while and relist it, which makes the listing market time reset back to day 1.
If you are interested in a home that has been listed for quite some time, you could end up offering less than the list price and likely have the sellers accept your offer. They'll be itching to get rid of their property because each month the home is not sold is another month they pay for property taxes, home insurance, and utilities.
2. Price Changes
There should be a section of the listing that tells you if the property has had any recent price changes. This will also tell you if the seller is motivated to sell by dropping the price. If a home has not had a price change, it means that the seller wants to hold firm on the price that they originally listed for.
It's a good idea to look at how many lots of land that the home is located on. You can find this information at the pin information. A home that has more lots is going to have higher property taxes, so look to see if the home you like has multiple pins. This may be indicated by the parcel identification number on the listing. This can help give you an idea of how much you'll end up paying in property taxes if you buy the home.
Having difficulty doing home searching on your own? Reach out to a few local real estate agents that can help you throughout the home buying process.