Hassan's 7 Picks for First-time Homebuyers

Hassan's 7 Picks for First-time Home-buyers

1. WalkScore - A very interesting site that lets you type in an address and measure the 'walkability' of that area. The score takes into account amenities, parks, business listings, etc. but does not take into account proximity to public transportation, crime, and other factors. All in all, it's still an interesting site and another tool to help in your house hunting. I input our organization's address to see how we faired. Look at the image below.
2. LAPD Crime Maps - As far as crime goes, LAPDCrimeMaps.org picks up where WalkSource doesn't. Input a location and the website will generate a detailed map outlining the various types of crimes committed in that radius over a given amount of time. Of course I was curious to see who our neighbors are (CFRC is located in South LA aka South Central) and saw, at least for this 3-day window, we've had a couple of auto thefts in the area. Nevertheless, I recommend house-hunters (especially New Los Angelenos) to monitor their target neighborhoods at least three months in advance. After all, this is LA...
3. Real Estate Terms Dictionary on Investopedia.com - Memorize this list of real estate terms and definitions and surprise your real estate agent when you've been following the Case-Shiller Index and feel although your qualifying ratios could qualify you for an Interest Only nonconforming loan, you'd rather wait still prices fall and save for a two discount points purchase.
4. APR Calculator from BankRate.com - A handy tool to determine the annual percentage rate on a mortgage complete with amortization schedule. Play around with this guesstimate how much that Victorian house in Angelino Heights could cost you monthly at current interest rates.
5. GreatSchools.net - Want to know how the middle school in your future neighborhood measures up? Get the inside scoop from parents and students themselves from this site. And if you're really savvy, check out the API (Academic Progress Index) Rank of any school here.
6. Google Maps - They have this great feature that allows you type in an address or area and it will show a street view of that location - essentially providing a virtual tour of the neighborhood. Yes, I know ZipRealty and Trulia do this also, but it seems smoother on Google. Plus, you can enlarge the screen size. I like to use this feature to get a feel for what the neighborhood "feels" like. Also, sometimes pictures can be deceiving, so this is a good way to follow up on interested properties. The only caveat I see is, despite looking very current (I of course tested out my own address), I'm not sure how often it is updated.
7. Google Transit - Another great creation by Google...with this tool you can find out how (convenient it is) to take public transportation from, say, your future home to work. Not gonna ditch the car you say? Well, as gas costs will inevitably rise and traffic in LA worsens you might value having public transportation a walk away in the future.
   

Honorable mention goes to i-Neighbors.org an on-line community that lets connects residents of specific neighborhoods. Find your (future) neighborhood here and get to know your future neighbors.