Archive for the ‘Chicago MLS Search’ Category

Multiple Listing Service

Monday, August 17th, 2009

If you are a real estate agent the Multiple Listing Service is your guidebook or directory to all your business and you cannot live without it.  Wikipedia defines “Multiple Listing Service (MLS) as a suite of services that (1) enables brokers to establish contractual offers of compensation (among brokers); (2) facilitates cooperation with other broker participants; (3) accumulates and disseminates information to enable appraisals; (4) is a facility for orderly correlation and dissemination of listing information to better serve broker’s clients, customers and the public.”

The Multiple Listing Service is where real estate agents go to find information about properties for their prospective customers or clients.  If an agent is working with buyers then the MLS will enable the agent to find properties available for sale.  Real estate agents who have access to the system can search specific areas, specific types of property, number of bedrooms and baths and much more.  Today the Multiple Listing Service has become such a technologically advanced tool for real estate agents they cannot live without it.  With the combination of many associations of realtors or groupings of associations into several large services a real estate agent has access to literally 10’s of thousands of properties for sale with such sophisticated search engines that finding the perfect property for your buyer is only several key strokes away.

Most Multiple Listing Services restrict their membership and access to only real estate brokers and their agents who are licensed in the state and are members of the local board or association.  However, access is becoming more open due to the explosion of internet sites and the public’s increased interest in properties in their area.  There has been a few legal cases involving the public’s access to their local MLS but at this point in time access is granted to licensed realtors and associate members, such as appraisers and mortgage providers.

The Multiple Listing Services database and software is used real estate agents who represent sellers to share information about properties with other brokers who may be working with potential buyers or wish to cooperate with a seller’s broker in finding a buyer for the property.  The data contained on the MLS assists agents with searching out specific information provided by the seller which enables the real estate agent to find just the right property for their buyers.  As stated above the Multiple Listing Service is the bible for real estate agents without which an already challenging job would become much more difficult.

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Search for Condos in Chicago

Thursday, May 28th, 2009

To search for Condos in Chicago, simply go to the OwnACondo.com website and on the middle of the home page, you’ll see a button that says “condo search”.  Click on this and you’ll be in front of more than 40,000 condos that are for sale in the Chicago condo market.

The search for condos in Chicago can be quite challenging.  Where do you start when there’s over 40,000 to choose from.  The best recommendation is to start with a condo professional.  There are Realtors that are focused on condos only.  They are the ones that will be able to provide tons of information including financing info, insurance info and information on neighborhoods galore.  You may have kids and need information on schools.  Realtors will help with all this.

When searching for condos in Chicago, focus on “solds” just as much as “active condos”.  How do you know you’re getting a deal when you’re not sure what other condos in the area have sold for.  This is a must.  Your condo realtor should be able to provide you with all this.

Financing a condo in today’s market place can be challenging.  There are several lenders, but which one do you choose?  Again, a condo professional will be able to give you a start by providing you with at least three lenders that focus on condos.  The main part of the financing a condo comes down to how much you’re willing to put down as a down payment and how much interest rate the bank will ask for on the loan.  If you are able to put at least 20% down, this is helpful because it eliminates an additional expense called private mortgage insurance, also known as PMI in the business.  PMI is an insurance for the banks in case you do not go forward with the first mortgage.  There have been so many foreclosures in the business lately that PMI companies are getting tougher and tougher creating a bottleneck of buyers unable to get loans.  If you have 20% down you avoid all that.

If not, don’t fret.  There are many banks that will finance condos.  The programs are starting to pop up now.  1% down programs, no money down through a company called NACA.com, FHA programs with 3.5% down: they’re all over. 

If you want to own a condo, do a search for condos in Chicago, target the best five to ten and choose a professional that can help.  Before you know it, you’ll be living in your new palace.

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Chicago MLS Search for Condos

Thursday, May 7th, 2009

The “Chicago MLS Search” for condos is one of the best ways to really find what you’re looking for.  Do you realize, there are over 35,000 condos for sale in the Chicago MLS Search today?  35,000 condos to choose from.  Isn’t it better when you get the chance to go through all the condo listings for sale versus your condo Realtor specialist? 

The Chicago MLS Search for condos starts with registering on the website of OwnACondo.com.  You will be asked a few questions and then sent a password to your email address.  Once you’re in, you’re able to view the thousands of Chicago condos available.  Are you interested in Chicago River North Condos?  How about Chicago South Loop Condos or Chicago Lakeview condos?  They’re all there.

Once you’re viewing the MLS Chicago condos search, start making some notes.  What style of condo do you want to own in what area?  Once you’ve narrowed your search down to about ten, called your OwnACondo.com Realtor and begin the process of looking for your dream Chicago condo.  Your OwnACondo.com realtor will set up the showings and you are now on your way to finding the condo you’ve always wanted.

The Chicago MLS search for condos can be good to use for “sold condos” as well.  Just imagine being able to view the condos that have closed in an area.  You can immediately get a feel for an areas condo value in doing this exercise. If most of the Chicago River North condos are closing at $585,000 and you find yourself in a situation that the seller of the condo is willing to sell at $485,000, you’ll begin to get a feel for what true value is in front of you.

If you have any questions about how to search the Chicago MLS search for condos, an OwnACondo.com specialist can help you at any time.  They do this for a living and can answer any question that you come up with.

This can be extremely fun to do.  Spend an afternoon with a cup of coffee, sit back and view the thousands of Chicago condos for sale on the Chicago MLS search today.

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