New MLS Search Tool Aimed at Hispanic Homebuyers

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With the Hispanic community responsible for over half the nation's new home sales in the third quarter and predicted to comprise 40 percent of the entire first-time-buyers market next year, their undeniable purchasing power has spurred Realtors to step up their game.

On Dec. 1, a new Spanish-language property search website, Sucasa.net, was launched by the California Association of Realtors to better satisfy the needs of potential homebuyers in the Hispanic population. Sucasa (which is Spanish for "your house") allows these buyers to navigate MLS listings with ease in Spanish.

Listings can be searched by city, price range, number of bedrooms and number of bathrooms, with translated results appearing in a list or map format. Even driving directions to the property will be offered in Spanish.

The search engine is not just a beneficial tool for potential homebuyers. Realtors will be able to better communicate the benefits of ideal properties to their clients and will be able to send their clients completely translated listings.

Sucasa.net is one of the first Spanish-language websites to offer a translated property search for listings based on the California Living Network database, which is powered by Realtor.com.

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New MLS Search Tool Aimed at Hispanic Homebuyers
Forbes searched for markets that are overstocked with homes for sale, but are adding jobs and aren't plagued by lending conditions that may significantly threaten the market's health moving forward. They examined 2006-2007 data on job growth, from the Bureau of Labor statistics; foreclosure data from RealtyTrac, an online database of foreclosures gleaned from multiple listing services, bank-owned properties, bankruptcy records, loan histories, tax liens and lender information; and ZipRealty, an online firm that tracks vacancy rates through multiple listing services. Of the country's largest metro areas, these are where the best bargain buys are.
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Of the major metros in the U.S., Salt Lake City is adding jobs faster than anywhere. The economic boom in SLC has drawn residents from all over the country.
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Raleigh is another market that has been driven by job growth. Like much of the Southeast, the expanding economy here has kept people moneyed enough to make home payments. According to RealtyTrac, there is only one foreclosure per 319 households, one of the lower rates in the country.
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South Florida markets aren't often referred to as bargains, but Orlando stands out. It's adding jobs at a much quicker clip than other cities in the state, especially those in the South.
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Just like in-state neighbor Raleigh, Charlotte has expanded quickly as the result of an economic boom that has drawn many residents from the North and Northeast.
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Phoenix has a very high foreclosure rate; there's no way around that. Based on RealtyTrac's estimates, there is one foreclosure for every 87 households in Phoenix. Still, our data suggest that strong job and economic growth in many non-housing sectors of the local economy is enough to offset it, and people are still moving to the Valley of the Sun at a quick rate.
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