How Searching for Massachusetts Real Estate is Improving
If you have been looking for a property to buy in Massachusetts the process is about to get a whole lot easier. The multiple listing service that serves Massachusetts also known as MLS Property Information Network will be updating their system to no longer allow listing agents to keep homes with a contract to purchase in "active" status. The new changes will help would-be home buyers figure out what homes are actually available and what homes have accepted offers.
The current status is known as Active with a Flag and what it means is that a home can be under contract and the agent can still keep it in Active with a Flag status in the multiple listing pending the satisfaction of contingencies like home inspection or mortgage commitment. In most cases the home is actually not available for purchase because it already had an accepted offer. This is good news for buyers because the Active with a Flag status is confusing and frustrating for customers who want to view these listings, only to find out that they really are not available.
Another problem with the Active with a Flag status is the nationwide syndication real estate sites like Trulia, Zillow, Realtor.com, and others websites that syndicate the Massachusetts MLS are not updating this information. Homes on these sites only show as active and consumers are led to believe that the home is available.
With low inventory in the Boston and Cambridge area it is increasingly important that the consumer be made aware of the very latest changes in inventory status. The changes are expected to take place soon on the Massachusetts MLS. As always if you need to inside scoop on what it available or even coming to the market be sure to give me a call.</span>
Guy Contaldi helps clients sell and find homes for sale in Boston, Cambridge and the surrounding communities.