Hi. I'm Todd Jones. Welcome back, and thanks for watching my home buyer video series. Again this is for first time buyers or anyone who is purchasing a home. Now, the next thing I want to talk about is, where do I look for a homes? What's the best process in doing that? And I always tell people, it's okay to look on whatever site you like. If you're a fan of the interface of zillow.com, or realtor.com, or trulia, or the MLS.com, or maybe my website. Whatever works for you is the way that you should look for a home, because with those websites you're going to get some information that may not be as helpful as you want. What do I mean by that? Some of the websites will give you what they call foreclosure information. We are going to talk about foreclosures in an upcoming video, but I want to make you aware of this little annoying thing that can happen. You'll see an awesome price, like unbelievable, too good to be true. Guess what? It is. It's [chuckles] too good to be true, because nothing is going to sell for that cheap. It would drive the price up.
And what this usually is is this is a data feed from a company called Realty Track. So, if you check out that little box on Zillow.com or some of the other sites, and you want to look at foreclosures, you're going to get this data feed. And all it is, is a list that these people, from Realty Track and other companies, will compile. And it will give you the upcoming foreclosures that are going to be on the court house steps. And those are just the starting bids. And they're all made up numbers. Because, let me tell you, if you're looking in the Hollywood Hills, or Studio City, or Sherman Oaks, or Pasadena, or Malibu, wherever, you're not going to have a property that's going to sell for $100 thousand dollars. It would have to be a toxic dump for it to sell for that amount. So, a lot of people will call me and they're all excited because they think they found this gem. And I have to explain to them. Look, all that is is that's an upcoming auction, all right? And that auction is-- that's the starting price that they got from the bank, or they estimated, or whatever. It might be whatever the default is on the loan. But look, when they start bidding on that it's going to drive the price up. There's no way it'll stay that low. It just doesn't happen that way. So beware of that sort of thing when you're looking online.
Now the good news is you won't get these types of misleading properties on my website, so if you search my website, don't worry about the seeing a foreclosure that's just going to be something that you can get at the auction. You'll be able to get those the conventional way by submitting an offer, review the documents, look at the house, all that sort of thing. If you want to get very specific like, "I want two bedroom, one and a half bath, at least 1750 square feet. I have to have a pool. I'd like it to be updated with copper plumbing, I want it to be mapped out in this exact school district, that sort of thing." That's when you need to reach out to me, and I will set up an exact search for you in the raw MLS because that's what I have access to as a realtor. And I have painstakingly drawn out a lot of maps for school districts or where people want to be exactly to make sure they're in the community that they want to live. And you don't want a home to pop up on the market, and you miss it. So if that interests you, let me know. I am happy to help. Again this is meant for all home buyers, first-time buyers, anyone looking for a home. If you have any questions feel free to reach out to me, otherwise keep it on your inbox for the next video coming your way, and if you want to skip ahead feel free to got to my YouTube site listed below. Thanks for watching.