Highlights
Selling a house, condo or other real estate ¿ the largest and most complex transaction most Americans will ever make -- remains a huge part of the economy. In 2007, a dismal time for the business, about 6.3 million housing transactions occurred in the United States, according to the Realtor's trade group. But the market has taken a serious body blow in recent years. The National Association of Realtors predicted the sales of existing homes in 2007 would be 10.8 percent below 2006. Sales of new homes were expected to be at the lowest level in a decade. The Internet has made it much easier for a layperson to advertise their property and locate potential buyers. As a result, while about 90 per...
Selling a house, condo or other real estate ¿ the largest and most complex transaction most Americans will ever make -- remains a huge part of the economy. In 2007, a dismal time for the business, about 6.3 million housing transactions occurred in the United States, according to the Realtor's trade group. But the market has taken a serious body blow in recent years. The National Association of Realtors predicted the sales of existing homes in 2007 would be 10.8 percent below 2006. Sales of new homes were expected to be at the lowest level in a decade. The Internet has made it much easier for a layperson to advertise their property and locate potential buyers. As a result, while about 90 percent of transactions involve a real estate agent, the rest were simply buyers and sellers hooking up independently. By-owner sales are popular among many people, in part because it saves on commissions.
But even more people favor using a real estate agent who has the expertise and time to negotiate the complex processes. It may be obvious that no sale in your life will ever be as crucial, but the good news is that it does not have to be as intimidating as you think. The single best piece of advice is not to let the big numbers and the jargon unnerve you. Simple, easy-to-understand step-by-step advice and instructions are available in literally hundreds of books in the library, on-line articles and websites (enter the words "real estate tips" and "selling" or "buying" in any search engine). Most give the exact same information although each may have a bit of a bias such as favoring by-owner or using a Realtor. Other significant advice: have patience; this can often be a long process and time usually is on your side. Trust your instincts; if a deal seems too good to be true, there's often a reason. Believe in options; just like buying a used car, there is always another buyer out there, although you may have to wait for them to appear. Selling a home is essentially a lengthy parade of complex decisions, starting with whether this is the right time to be making a transaction. But the websites and books lay out the specific criteria you can use to make an informed judgment call rather than just making a blind guess. For sellers, the process has several basic steps: finding a real estate agent, setting the price by investigating the market around you, repairing and primping the home to make it more attractive to buyers, effectively advertising your house, negotiating the sale, and closing the sale.
But even more people favor using a real estate agent who has the expertise and time to negotiate the complex processes. It may be obvious that no sale in your life will ever be as crucial, but the good news is that it does not have to be as intimidating as you think. The single best piece of advice is not to let the big numbers and the jargon unnerve you. Simple, easy-to-understand step-by-step advice and instructions are available in literally hundreds of books in the library, on-line articles and websites (enter the words "real estate tips" and "selling" or "buying" in any search engine). Most give the exact same information although each may have a bit of a bias such as favoring by-owner or using a Realtor. Other significant advice: have patience; this can often be a long process and time usually is on your side. Trust your instincts; if a deal seems too good to be true, there's often a reason. Believe in options; just like buying a used car, there is always another buyer out there, although you may have to wait for them to appear. Selling a home is essentially a lengthy parade of complex decisions, starting with whether this is the right time to be making a transaction. But the websites and books lay out the specific criteria you can use to make an informed judgment call rather than just making a blind guess. For sellers, the process has several basic steps: finding a real estate agent, setting the price by investigating the market around you, repairing and primping the home to make it more attractive to buyers, effectively advertising your house, negotiating the sale, and closing the sale.
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2 Women Arrested in $2 Million OC Real Estate Scheme
KTLA NewsWESTMINSTER, Calif. (KTLA) -- Two women are under arrest for allegedly running a real estate scam in Orange County that swindled at least 17 victims. 43-year-old Lynn Nguyen managed Suncoast Investment Realty in Westminster. She and 42-year-old Lynn...Tags: Foreclosures, Real Estate, Services and Shopping
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South Central Farmers Fight For Promised Park
KTLA NewsLOS ANGELES (KTLA) -- Local activists are fighting a plan to sell of a plot of land earmarked to be a public park to a developer who wants to build a clothing factory. The 2.6 acres in question was purchased from the city by real estate developer Ralph...Tags: Real Estate Buyers, Human Interest, Real Estate, Jan Perry
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Rihanna Suing Over Leaky $7M Beverly Hills Mansion
KTLA NewsBEVERLY HILLS, Calif. (KTLA) -- Singer Rihanna claims her nearly $7 million Beverly Hills mansion came with some major defects, and she's taking the matter to court. Rihanna has filed a lawsuit in L.A. Superior Court against Prudential California...Tags: Crime, Law and Justice, Homes, Trials, File Sharing, Litigation
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Report: Frank McCourt Offered $1.2 Billion for Dodgers
KTLA NewsLOS ANGELES (KTLA) -- Frank McCourt has been offered $1.2 billion to sell the Dodgers, the Los Angeles Times reports, a record offer for a Major League Baseball team. The offer comes from Los Angeles Marathon founder Bill Burke and is funded in part by...Tags: Entertainment, Bankruptcy, Television, Frank McCourt, Los Angeles Dodgers
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Expensive L.A. Homes Lagging in Sales
KTLA NewsLOS ANGELES ( KTLA) -- Is it possible that even the mega-rich are suffering the effects of a down economy and a challenged real estate market? Recent indicators suggest the answer is a resounding yes. While it is certainly no secret that the lower-end...Tags: Real Estate Agents, Values, Homes, Real Estate, Beverly Hills
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State Rejects $56.5-Million Bid to Buy OC Fairgrounds
KTLA NewsCOSTA MESA -- State officials today rejected a $56.5-million auction bid to buy the Orange County Fairgrounds, saying they will continue to explore other ways to sell the 150 acre property in Costa Mesa. Craig Realty Group in Newport Beach outbid six...Tags: Arnold Schwarzenegger, Newport Beach, Orange County (California), Costa Mesa, Property
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Deadline to "Save the Peak" Extended
KTLA NewsLOS ANGELES -- Today marked the deadline to "Save the Peak" beside the world famous Hollywood sign, and to add a bit of Hollywood drama, the effort has been continued. The Trust for Public Land says it has received a 16-day extension to finish raising...Tags: Real Estate Buyers, Mergers, Acquisitions and Takeovers, Natural Resources, Tom LaBonge, Howard Hughes
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$4 Million More Needed to "Save the Peak"
KTLA NewsLOS ANGELES -- Environmentalists have raised $1 million in less than a week to help "Save the Peak" beside the world famous Hollywood sign, but they still need an additional $4 million. Trust for Public Land President Will Rogers says his group raised $1...Tags: Real Estate Buyers, Natural Resources, Tom LaBonge, Property, Howard Hughes
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LA Times Probe Finds Nurses' Criminal Records Ignored
LOS ANGELES -- In March 2006, a Long Beach hospital put state licensing authorities on notice: Two patients had accused a nurse of molesting them on a single night. One said that he massaged her breasts, the other that he groped her under her hospital...Tags: Fresno County, Judges, Trials, Criminals, Theft
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33RD Annual Home Remodeling & Decorating Show-
Buyers, House Sellers & Real Estate Investors Expo When: Saturday, February 21st 10a.m.-8p.m. Sunday, February 22nd. 10a.m.-6p.m. Where: Los Angeles Convention Center, South Hall-Kentia...Tags: Real Estate Buyers
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House Designed to Float During Flooding
Associated PressNEW ORLEANS -- A house capable of floating atop rising floodwaters made its debut Tuesday in New Orleans alongside more than a dozen other homes built through actor Brad Pitt's Make It Right Foundation. Called the FLOAT House, the unique home aims to...Tags: Shannon Sharpe, Hurricane Katrina (2005), Hurricane Damage, Real Estate Buyers, Floods
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Home tweet home: Agents turn to social media
Your real estate agent wants to be your friend. Not your bowling or bridge partner, or a confidante to phone after a particularly tough day, but your social media buddy, a person who will keep you up-to-speed with newsy updates and insider information...Tags: Email, Real Estate Buyers, Twitter, Inc., Google Inc., Services and Shopping
Feb 23, 2012
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