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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Burbank home sales still falling
The number of single-family houses on the market in Burbank remained sparse last month, but the number of condominiums for sale held steady, according to the latest real estate figures. There were 128 single family homes on the market last month, down...Tags: Auto Trends, Real Estate Buyers, Condos, Real Estate, Realty
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Shame on Little White Chapel
I have been a Burbank resident for 10 years. When I was looking to buy my home, I knew Burbank was where I wanted to live. Burbank has a retro charm, beautiful tree-lined streets, darling homes, kids playing outside, friendly neighbors, a wonderful small-...Tags: Religion and Belief, Real Estate, Homes, Services and Shopping
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Buyers vie for fewer Burbank homes
A low inventory of single-family homes is still making an impact on the local real estate market, resulting in multiple offers and buyers snatching up homes quickly while interest rates are low. There were 135 single-family homes on the market last...Tags: Real Estate Buyers, Money and Monetary Policy, Condos, Inventories, Real Estate
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Home sale inventory drops
Fewer homes were on the market last month compared to a year ago, according to the latest real estate statistics. It’s a trend that’s been growing the past several months due to low interest rates and declining home prices. There were 140...Tags: Condos and Houses, Real Estate Buyers, Condos, Property, Inventories
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Home values continue their slide
Home prices in Burbank continued their slide in December compared to the same period a year earlier, but agents said they're hopeful that 2012 would bring better market conditions.
The median price for a single-family home was $510,000 last month, down...Tags: Condos, Consumer Confidence, Inventories, Shingles, Real Estate
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Realtors rally behind Habitat for Humanity
While real estate agents are known for their professional service in the buying and selling of houses, rarely are they known for actually building them. That, however, was the case as members of the Burbank Association of Realtors (BAR) took up shovels,...Tags: Awards and Prizes, Social Issues, Human Interest, Politics, Homes
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City plans 5% cuts to all departments
City Hall executives are drafting plans for budget cuts of at least 5% for the upcoming fiscal year, but even those reductions aren't expected to cover the projected $8.8-million shortfall.
Cutting 5% from each city department should generate $5.7...Tags: Burbank (Los Angeles, California), Budgets and Budgeting
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On The Town: Realtors revel, recognize and reorganize
Every community has its long-standing holiday traditions and along with the ornament-gilded tree standing in front of City Hall, another local seasonal tradition has been the Burbank Assn. of Realtors' annual holiday breakfast. Always a festive occasion,...Tags: Burbank (Los Angeles, California), Real Estate Buyers
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On the Town: Fundraising is murder
Ask any nonprofit or charitable organization how they are doing and you will most likely get an eye-roll, a shrug and an explanation that in today's economic environment raising funds is murder. The Burbank Assn. of Realtors and the Burbank Temporary...Tags: Social Issues, Comedy (genre), Crimes, Campaign Finance, Assault
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New water rules pass
After nearly a year of back-and-forth between Realtors and city officials, an ordinance requiring all buildings to be retrofitted with water-saving fixtures upon resale narrowly passed this week. The ordinance — approved 3 to 1 on Tuesday with...Tags: Real Estate Agents, Water Supply, Burbank (Los Angeles, California), Real Estate Buyers, California
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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: Real Estate Agents, Property, Realty, Media Industry, Jefferson Park
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Deeds: Lehigh Valley Area
ALBURTIS Hoffman, James J., Hoffman, Jessica M. Nanni and Nanni Hoffman, Jessica M. from Troutman, Jason, 317 Ridgeview Dr., $150,500, (4/26). Wentzel, Marie C. from Cwynar, Matthew J. and Cwynar, Kristen, 323 W. Second St., $155,000, (4/26). ALLEN...Tags: Center Valley, Catasauqua, Federal National Mortgage Association, Interior Policy, Northampton County (Virginia)
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