The MLS as a tool for the buyer.

THE MLS as a tool for buyers

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If you're in the process of looking for a home in Colorado Springs, you'll want to be familiar with MLS.   The initials MLS stand for Multiple Listing Service.   It's an important resource for your home search, and your realtor should be very in touch with what is new on the local MLS every day.

There are hundreds of MLS's across the country (and in many other countries as well).   Every seller knows that they need to get their house listed on MLS to sell it; and every home-buyer should know how to utilize the MLS.  Think of the MLS is a big property warehouse , similar to a "Walmart."   When a property is available for sale, it goes in the warehouse.   When it is sold, it gets taken out of the warehouse.   When changes get made to the status and pricing of a property, it gets changed in the warehouse.  When changes get made to the pictures and the description, it get changed in the warehouse.

What is a Hot Sheet?

A Colorado Springs Realtor can search the MLS and pull up "Hot sheets".    These reports can be pulled for the entire Pikes Peak area, or only for a specific MLS area.  As an example, this morning I pulled up Hot Sheets for homes in Northwest Colorado Springs, which includes houses in Rockrimmon, Mountain Shadows, and Pinecliff since January 24th and was able to see the following information:

• All  new listings (11)
• Listings that came back on the market  (1)
• All price changes (15)
• Pending Changes (0)
• Under Contract Changes  (0) 
• Closed Listings - including the list price vs. what the home actually sold for (properties) (4)
• Expired Listings ( properties) (0)
• Withdrawn listings ( properties)  (0)

One helpful service a realtor can offer buyer, is to send customized MLS listings by e-mail every day.   You'll then be able to see the newest properties as soon as possible and get a jump on finding your dream home.    For example, a Colorado Springs realtor can search the MLS specifically for Homes in Northwest Colorado with three bedrooms, 2 baths, 2 car garage, on at least .20 of an acre priced between $250,000 and $400,000.    Almost any data that is entered in the MLS can be queried out to set up a customized search.  

Colorado Springs Real Estate Agent, An Expert You Can Trust

Selling Real Estate in the Colorado Springs area, including Monument,  Fountain, Larkspur, Pueblo, Castle Rock, Manitou Springs, Woodland Park, Palmer Lake

  www.ColoradoSpringsVintageHomes.com, www.KathyTorline.com