Expert: Jessica Bryan - 1/6/2005

Question
How can the layman access information on the web--listings and other information?
What is a market evaluation and how does it differ from an appraisal what are the different loan programs?
I need Helpful tips when buying?
I need help finding a good mortgage loan.

Answer
Dear Ron;
You can access information on the Internet by going to www.realtor.com.  All MLS listings are posted there.  You can also get other real estate information such as the price homes sell for by going to www.domania.com.

To answer your other questions:  a market evaluation is done by an agent and is sort of like an appraisal except it is not as detailed and often uses different criteria to arrive at the price of the home. An appraiser must follow certain "universal guidelines" including measuring the home to arrive at the price.  The agent who does an evaluation does not take the same amount of time and usually uses rounded numbers, approximate sizes and square footage.  The agent will not usually use the approach of replacement value to evaluate either.
As for different loan programs...there are thousands!  The basics are fixed rate loans both 30 year and 15 year and variable or adjustable rate programs for the same duration.  When you visit realtor.com you will see on the first page and box with infrmation on loans.  It is quite informative.  this is actually a very good web site for people looking for advice and buying tips.  It also sounds like you should consider finding a Buyer's agent who can help you through the process and assist you in finding a loan.  A good agent doesn't cost you, the buyer, anything and can save you lots of time and money.  Consider interviewing a few real estate agents to find the one with whom you feel the most comfortable.  Since you have asked questions that will require lots of discussion, finding someone who can devote one on one time with you is essential.

Good luck and best wishes.

Sincerely,
Jessica Bryan
Managing Broker
House to Home Realty Services