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Would
you spend $20,000 on a car without first researching to make sure
that you are getting the make, model, options and price that best
fits your needs? Of course not. But many homebuyers are willing to
make one of the biggest investments in their life without finding
out all they can about the process and their options.
That's
where the Internet comes in. There is a wealth of information out in
cyberspace. Not only will it give you a better scope of what is
available in your market, but also can save you time. According to
the 2002 National Association of REALTORS® (NAR) Profile
of Home Buyers and Sellers, 63 percent of buyers said that the
Internet shortened the search time of their new home.
If
you don't know where to start, www.realtytimes.com
and www.realtor.com
are two great resources. Both sites have tons of articles on all
aspects of the home buying/selling process. You can get information
on how to choose a real estate professional, purchasing a vacation
home, typical closing costs and everything in between. Make sure you
also check out The Wall Street Journal website's special section on
homes (www.homes.wsj.com)
and other major newspaper websites.
Home
Listings
With
41 percent of homebuyers using the Internet as an information source
(according to the 2002 NAR Profile of Home Buyers and Sellers), it
should be no surprise that a significant number of homes for sale
are listed on there. Sites such as realtor.com
allow you to conduct home searches throughout the country based on
different criteria such as zip code, price range and square footage.
Some search engines even allow you to find homes in other cities
that match the neighborhood you live in currently. You can also find
listings on individual real estate company's sites such as www.prudential.com
(OR INSERT YOUR COMPANY'S WEB ADDRESS).
Neighborhood
Comparison
When
you are moving to a new town, you more than likely won't be familiar
with the neighborhoods. By using the Internet, you can answer
questions such as: Which communities are the safest? What's the
performance rating of the schools in the new area? How does the cost
of living compare between town A and town B?
Do
You Have Good Credit?
You
no longer have to wait until you are in front of a mortgage lender
to find out what's on your credit report. You can get it instantly
through various services on the Web. You can also visit the Websites
of the three major credit-reporting agencies, Equifax,
Experian and Trans
Union to obtain your credit reports and tips on correcting your
credit.
Financing
Your Home
If
you are like the majority of homebuyers, you will be applying for a
mortgage loan. There are several sites that allow you to compare
mortgage interest rates of lenders nationwide. You can also get
personalized quotes and do loan and lender comparisons. Should you
go with a 7/1 ARM or a 30-year fixed mortgage rate? Just use a
mortgage calculator, found on most real estate and mortgage sites,
to compare and estimate rates.
There
is much to gain from using the Internet during your home search. It
can give a better picture of your options and help you set more
realistic goals for your home choices. And because you will be a
more informed home buyer, it will allow your real estate
professional to provide better service to you, thereby making your
home search the best experience possible.
If you have questions about this or any other
home buying or selling subject, confer with the real estate
professionals who can help provide you with more detail…
We
can be reached at (310) 265-2130
Prudential California Realty is an independently owned and operated
member
|of The Prudential Real Estate Affiliates, Inc., a Prudential
Financial company.
Equal Housing
Opportunity
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