The Internet's Place in Buying a Home

How can you find a mortgage on the Internet?

The Internet is a useful tool when you're trying to find a home, but it can also help you find a way to pay for that new home.

The mortgage industry has gone through many changes over the past year. In many cases, lenders have tightened their standards, but it's likely there is still a mortgage out there for you. The Internet is a key tool in finding a mortgage. Getting pre-approved for a mortgage is a good first step to take in your home search. You'll have a better idea of how much house you can afford.

The Internet allows you to expand your search beyond the mortgage lenders in your area and compare multiple rates and types of loans.You can also shop for a mortgage at any time of the day or night. The Internet never closes, so shop at your leisure.

A simple search of the Internet will give you the most recent interest rates for different types of mortgages. These may differ depending on your credit history and income.

It's a good idea to check your own credit report before shopping for a loan. The country's three credit reporting agencies allow you to access your credit report for free once a year.

More Real Estate Tips.

How do you find an agent on the Internet?

Real estate agents and brokers no longer just represent sellers. If you intend to buy a home, look into a buyer agent. Buyer agency, a relatively new concept in the industry, means that buyers can have access to the knowledge and experience an agent provides. Buyer agents look out for the best interest of someone buying a home and their commission is usually included in the price of the home you eventually buy.

Buyer agents have a strong presence on the Internet. They sometimes list their services on Web sites and nearly all have their own sites. You can confide in a buyer agent and tell them facts about your situation that you would not want to reveal to the seller or the seller's agent.

A buyer agent will help make sure you pay a fair price for your new home. He or she will also save you a lot of time by narrowing down homes for you to visit.

There are associations of buyers agents in many states. You can check with one in your state, or with the National Association of Exclusive Buyer Agents, if you need a referral.

More Real Estate Tips.

How do you find homes for sale?

Twenty years ago, the classified ads of your local paper were the place to go to find homes for sale. But these days, "3 bdrm w/ 1 1/2 bath" doesn't tell you a lot about a home you could spend an hour or two touring. The Internet has given real estate agents and home sellers a venue to showcase homes for sale, and it has made buying a home a lot more time-efficient for buyers.

• Check Web sites that let you search by geography and price, like www.homesandland.com. You'll be able to see details that you could never discern by looking at old-fashioned classifieds, and you'll be able to see pictures - sometimes even a virtual tour of the home.
• These ads will let you compare homes against each other; get a good idea of asking prices and keep notes. These will help you negotiate later.
• Compare amenities and prices on homes that offer the ones you want. You'll be able to make lists of what you need versus what you would like before you attend open houses or approach buyers agents.
  

More Real Estate Tips.

How can you find information about your new community on the Internet?

Whether you're looking for houses for sale a few towns away or across the country, there's more to your move than just finding the perfect house. You'll want to find out about schools, crime rates and property taxes. The Internet is a good place to look.

The Web site of the town or city you're moving to is a good place to start. Many will have information about property tax rates and local schools. Some smaller towns don't yet have well-developed Web sites, but start there, and call the town if you don't find the information you need on the Internet.
There are also many Web sites that have comprehensive information on the things you need to know before moving. Your real estate agent's site may have information.

There are also sites that can give you information about both public and private schools in your new city or town. Find parent ratings and information about school performance.

More Real Estate Tips.

How do you use the Internet to buy a home?

The Internet has dramatically changed the real estate industry and the way you will buy a home. Instead of depending on three-line classified ads, you now have access to multiple photos and detailed descriptions. Start your search on the Internet and you'll save yourself lots of time in the long run.

• Look at Web sites like www.homesandland.com, which lists homes with photos and gives you the ability to look at locations on a map. Sites like that also give you the ability to find information about the agent who is selling the home and to contact him or her.
• The Web can also be a useful tool for finding mortgage lenders. Often, you can apply for mortgages on the Internet and get pre-approved for a loan. The Internet can save you a lot of time and money, because you can shop around for mortgages to find the best rate.
• You can also find a real estate agent who can help you find a home and represent you throughout the process. They are called buyer's agents and many have their own Web sites.
  

More Real Estate Tips.

How do MLS listings work?

The multiple listing service has been an integral tool for real estate agents for more than 50 years, according to the National Association of Realtors. It started as a way for professional real estate agents in the same area to all have access to every available property listed by the MLS's members.

Since the MLS listings have moved from books to the Internet, it has changed considerably. There are nearly 900 multiple listing services nationwide. The Internet has already prompted some consolidation and there will probably be even more. This can benefit you as a home seller, because more and more agents will be able to see your property.

When you hire a real estate agent, it's likely he or she will be a member of one or more multiple listing services. You can ask which services an agent subscribes to when you're choosing who to work with.

More Real Estate Tips.

How can you use the Internet to buy a second home?

Maybe you want a getaway near the beach or near your favorite skiing mountain. Second homes are becoming more and more popular among Americans. One of the challenges of second home buying is being unaware of trends in the housing market in which you want to buy a home. Use the Internet to research the area and to look at listings. Hiring a real estate agent who specializes in the type of home you want to buy, and who is located in the area, can help you get an inside view of the market.

• Check out www.homesandland.com, where you can look at listings of homes for sale. Maybe you want a condo near the beach in Miami or a rural cottage in Maine. These online listings can help you find out how much house you can afford for the money you want to spend, and will give you an idea of what is available.
• Search the Internet for a real estate agent in the area in which you want to buy. You can sometimes find agents who specialize in vacation homes.
• Shop around on the Internet for mortgages. You can find the best rate available and can find a terms that suit you.
  

More Real Estate Tips.