How can MLS be used to find out the average trend of property values in an area over 2,5 and 10 year periods? It would be extremely beneficial to know that the average price of a house "Rolling Oaks" has a yearly average increase of 6% over the past 10 years but an average increase of 8% for the last 5 and 12% for the past 2. I'm looking for data that would indicate that "Rolling Oaks" is "hot" other that just my gut instinct.

How can MLS be used to find underpriced houses in a paticular area?

What ways have you found to utilize MLS to see market trends?