February 2013 Houston and National Housing Market Trends
This month's featured video discusses the MLS or multiple listing service property status terms. During your selling process your realtor will be frequently updating the MLS system to make sure your properties correct status is reflected. This is critical because this is how other agents know whether or not your property can be shown. To assist you with this process you should know about the following terms used by the MLS to represent the current availability of each listed property.
The term active is used to designated a listed property that is currently active and available for showing. The term option pending is used to designate a listed a property is under contract and the seller and buyer have agreed to use the termination option in the contract. The term pending is used to designate a listed property that is under contract and is no longer available to show. The term pending continue to show is used to designate a listed property that is currently under contract but it still available to show. The term sold is used to designate a listed property that is funded and closed. All sales closed must be reported to the MLS. Sold status should not be used before the actual closing.
The term withdrawn is used when a listing is temporary taken off the market but a valid listing agreement still exists. The term terminated is used when the listing agreement between the owner and the listing agent is terminated prior to the listing expiration date. The term expired is used when the contract btw the owner and selling agent ends up at and agreed upon date in the listing agreement.
The MLS has a language of its own. There is a lot to know about owning a home. A Realtor is always your best source of information for all your real estate needs...
If you have not reviewed my monthly Housing Trends Newsletter - you could be missing out. Everywhere I go, people are asking me about the housing market conditions - it's on everyone's mind. Staying abreast of local and national market conditions and factors that can affect the future sale or purchase of your home can make the decision process less daunting. I always tell my clients that in order to make the best decision they need to have all the information they can upfront. My Housing Trends Newsletter is just one of the tools in my arsenal to make sure you keep informed.
The February 2013 Local and National Housing Trends has just been released. This month's newsletter is packed full of local and national housing market statistics and news you need to know to stay current with today's changing housing market.
This month's housing trends issue features:
5 Ways to Gain Creditworthiness in 2013
Should you Prepay Your Mortgage or Invest?
Top 10 Remodeling Projects Offer Bigger Returns
How to Protect Your Home From Water Damage Makeover
You can view the newsletter here.
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If you are considering selling your house or buying a home and need more information, I am never too busy to help, please contact me for more information.