When scouring the MLS for properties to view, Los Gatos home buyers would be wise to pay attention to the property class and land use data. A few years back, I discussed a little on this topic with this article: Is that Los Gatos house or townhouse actually a condo? Today I want to focus on the MLS information that Los Gatos home buyers are viewing online, and what to look for to understand these issues better. I’ve taken screen shots from the MLS, so what you see will appear differently on other portals, but the info should be present somewhere on the page if it shows up in our local MLS.
Getting the best data means getting it from a local MLS
First, our MLS, MLSListings.com, cooperates with other MLS organizations around the state. Often, though, when info comes into our system from an outside one, some info is dropped. That can be very frustrating. The most obvious one is the days on market or DOM – it is blank when it’s an out of area MLS entry. Today I was looking for examples of property class, meaning what kind of structure is it, and the land use to share here when I found this one, below:
Normally you will find info on the “class” which means the building type, such as a single family home (if detached, a house, if attached, a duet home), a townhouse, a condominium, a duplex / triplex / fourplex, etc. Also there should be land use – is it a condo, a PUD, or a single family home? (With condos and townhomes, there’s also a line for “ownership type.)
In the photo above, “Land use” is blank. Not helpful for a home buyer! This one was from a non-MLSListings.com entry. When that happens, you may want to make note of the info you could not find so you remember to chase it down later.
Most, however, will include the land use information, such as the next one:
Many of the townhouses in Los Gatos and nearby are held in condo ownership. That means you do not own the land under the unit, even though it is a townhouse. The owner of this kind of property owns the interior space between the walls and the floor and the ceiling. The Home Owner’s Association (HOA) has responsibility for the exterior of the structure, the roof, etc. The attic may or may not be community property. In some cases, there is a shared, open attic over all the units. In those cases, only one unit will have an opening to get into the attic.