hey realtors: question about MLS (Cleveland: for sale, real estate, rent)

[whithill]

Here's what I don't get:
We are in the midst of getting everything ready to move to E. Nashville (torn between Inglewood or Cleveland Park). Consequently, we've been addicted to the MLS listings and check them every day to see what's new in our size/price range. New stuff does pop up, and things do disappear, but mostly we see the same houses there week after week. Lately we've seen some prices dropping.

This does not jibe with what we hear (i.e in the Angela Patterson piece about E. Nash real estate in the Tennessean last week) that properties turn over FAST in East nashville -- that the really good properties (with nothing wrong with them) get snapped up a day after they go on sale, usually for the asking price if not more.

So... does this mean that there's a whole other inventory of available houses that we, the MLS-cruisers from afar, never read about? And do the houses that sit there week after week really have "issues"?

How much of successful "shopping" will involve just being down there and driving around, looking for FSBOs, scouting houses in renovation, etc. ?

Our initial plan was to wait til we have our current home rented, then zoom down and buy something fast. Would it be better to go down and rent for a month or so, to take advantage of this rapid turnover we hear so much about?
Sorry this is long, but any advice much appreciated. We're pretty confused.
Whit hill
A2 MI

[blueyes721]

Whit--
If you have a realtor..they should set you up on our auto email program from the MLS...that way you get emailed everything that is going on..pendings, actives, price changes.
If something is staying on the market for awhile and other homes on the same street or neighboorhood are moving ~overnight~...well then..there is something most likely wrong with them. I have driven by some that look great on the MLS and then next door is a burnt out house!
As you know those areas have pockets of good and bad deals. Many of the streets are full of drug traffic...and then there are some that are very nice and have homeowners who are working towards cleaning up the area.
I, too am very interested in the area....I think its at least 3-5 years out, tho...if you can be patient and feel safe...it'll be worth it.
Driving thru on a regular basis is helpful.
If you need to get set up on the MLS....let me know........
Keep us posted!

[46Barb]

In the process of selling & buying a home, I can tell you that houses stay for sale until sold (will show as for sale while under inspection, under contract, etc.). I even called up on some homes that were already sold but the realtor kept on posting so they would get responses and could show you another home.

I want to also say that what looks great in pics on the internet can look aweful in person. I was all set on buying a home I saw with pics inside & out until I actually saw it in person and didn't even bother going in because the outside did not look like the pics. My present realtor said that if you know how to take a pic, you can make bad homes look good.

Best thing is to research and find some homes you're interested in, go and see them, and also work with a realtor who will show you other homes that will meet your criteria.

[blueyes721]

in the MLS...when the houses have gone into a pending status..for a sale of another home...inspection....or financing...the box then gets shaded yellow.
We can put the mouse over the shaded area and it will tell us the particular status. So the realtor always knows what the deal is. I always will call on a home no matter what the status...nothing is for sure until the check is in bank!
I can tell you ...that if a realtor is caught not changing the status on a home...they will be fined...and rightfully so!