Serving Bel Air, Benedict Canyon, Beverly Hills. Brentwood, Laurel Canyon, Los Feliz, Malibu, Pacific Palisades, Melrose, Santa Monica, Sherman Oaks, Studio City, Topanga, Canyon, Westwood & Hollywood Hills.

Name

E-mail

facebook Canyon News twitter Canyon News

Canyon News

Bel Air News

Beverly Hills News

Brentwood News

Hollywood Hills News

Laurel Canyon News

Los Angeles News

Los Feliz News

Malibu News

Melrose News

Pacific Palisades News

Santa Monica News

Sherman Oaks News

Studio City News

Topanga Canyon News

West Hollywood News

Westwood News

Woodland Hills

Celebrity News

State News

National News

World Headlines

Deaf News

Entertainment

Film

Television

Music

On the Industry

Star Gazing

St. John's Confidential File

Theatrical Musings

Life & Style

Event Listings

Tech Talk

Looking Good For Lots Less

Spirit & Creativity

Miller Time

Books

View from the Hill

NY WEST

Chrystal's Recipe Corner

Career and Life Coaching

Gardening With Tony

Life According To Lenson

Real Estate Realities

Food

Sports

Marathon Running

Keeping It Bruin: A Look Into UCLA Athletics

Baseball

Basketball

Football

Hockey

Pets

Vi's Corner

Pet Tips

Point of View

John Armor

Message to America

Critic At Large... Ruta Lee

Labor Week

Ramblings

10 Degrees Cooler

McConnors corner

Edge of the west

The Physics Wizard

Auto

Kyle's Kars

Travel

Susan Michelle's Compass

Advice

Ask Deanna

Dear Lily

Ask Oona

Features

Dancing with Earthquakes

Archives

Sports Schedules

Traveling Beyond the Canyon

Edge of the West

Law Man

Ask Us

Nathan Tabor

The Angry Economist

Truth Probe

As I See It

Columnists

Truth Conquers

The Live Wire

Notes from Exile

Letters to the Editor

Dog Training by Anthony

Canyon Mews

Speak!

Sponsors

America's Most Wanted Dogs

World Recipes

Vegetarian Lifestyle

Humor

News Briefs

Local News

Books

News

Canyon Fodder

Bad Movie Night

Critical Projection

Ed's on the Town

Fitness Quests

Flashback Films

Stories of the Strange

Gourmet Grandma

He Said/She Said

Home Matters with Yvonne

L.A. Etch-a-Sketch

L.A. Ruminations

McConnor's Corner

Mommy Minute

Musically Speaking

My Back Pages

Publisher's Pages

ResourceINK

Scene and Heard in L.A.

Silly...But Wise!

Sunset Diaries

Table Options

The Paws Cause

TV Stuff

Cartoon of the Week



Home Matters with Yvonne

Buyers Choose A Real Estate Agent Wisely
Posted by Yvonne Hefner on Jan 1, 2003 - 4:20:00 PM

LOS ANGELESFor the month of December, in Canyon News territory, approximately 140 single family homes were listed for sale with approximately 97 sold. Also, during this time period, there were approximately 108 properties listed for lease with approximately 40 leased. The market has continued to perform better than expected this year primarily due to the low mortgage interest rates. After historic home sales in 2001 and 2002, sales are expected to slip but remain record strong next year due to low interest rates and strong projected economic growth. Interest rates are forecast to rise gradually to seven percent by this time next year yet hover around 6.2 percent during the first half of 2003. The prospects for housing demand should be good for the next decade.

Archive_5.jpg
Photo by Kibiwot Limo

Now, that you have been pre-qualified for financing to purchase a first home or another home and even better went steps farther to be pre-approved, you know exactly at what price range you can buy, approximately what your monthly mortgage payment will be and also know approximately your closing costs. Seeking a competent Real Estate professional may be next on your list. You may also prefer to begin the search of a new home by perusing the Internet, looking in the newspaper, driving around and going to open houses. There are several Real Estate listing sites on the Internet for the public. However, very often the properties listed are dated--already in escrow, sold or withdrawn from the market. The ads in the Sunday papers also may be dated since the ads may be re-runs or the property sold by the time the ad is in print. Driving around to search areas of appeal and appropriate to your needs is most helpful in making your selection, and Open Houses give you a chance to see interiors of homes and to become familiar with the prices. Should you locate the perfect home while at an Open House and you have not selected a Real Estate professional, it is acceptable and legal for the Agent representing the seller to also represent you, the buyer. Most buyers prefer to choose their own Real Estate Agent feeling more comfortable knowing their Agent is servicing only their interests and not both the buyer's and seller's which could cause a conflict of interest during the negotiation of price and other issues pertaining to the transaction.

Real Estate Agents most often choose and control their own professional approach to selling. Agents are not allowed to give any legal advice and must exercise reasonable skill, care and good faith. However, sellers are responsible for their representations to the buyer. In seeking a Real Estate Agent, ask friends, co-workers and associates for referrals. Some potential buyers believe they should first interview the Agent inquiring about how long the Agent has been in the business, what areas they work, how many clients they have and so on. How long an Agent has been in the real estate business is not always relevant. Since many newer agents have more advanced technical training and are more informed of current laws than some Agents who have been in the business 35 years. With the technology offered to Real Estate Agents today, an Agent can primarily work the Beverly Hills area but be able to tell a buyer what homes are currently available in Encino, the prices the homes have sold for in this area, how many are in escrow, etc. Although, if you are looking for a home in Orange County, you may certainly want an Agent located in Orange County due to the travel distance for the Agent located mainly in Beverly Hills.

What is pertinent to a buyer is an Agent who listens to what you say and just as important, what you do not say. A competent Agent will ask you, the buyer, several questions including ages of children, importance of schools in relationship to location of the new home, lifestyle and activities of family members, type of work you do, where you work in relation to driving distance, and pets. Agents today can e-mail listings whereby the buyer can view photos of homes including the complete description and price in the comfort of their home or office. In the current active Real Estate market, it is advisable for your Agent to check the market daily for new listings and for any price reductions. Many homes have numerous offers within two days of being offered for purchase. Listings that appear to be of interest to you, drive by first before having your Agent schedule an appointment to see if you even like the neighborhood and exterior of the home avoiding time wasted by all.

Once the perfect home has been selected, prior to making an offer, have your Agent do a Comparative Marketing Analysis (CMA). The results of this analysis will inform the buyer if the selected home is priced fairly and how high the offer should be. The CMA also most often eliminates the surprise of a home not appraising for the purchase price when appraised by the buyer's lender during the escrow process. Many buyers today complain of several offers on different properties not being accepted due to being out bid by others. A skilled Agent will know several helpful tips to assist you in your offer being accepted. Keep in mind, if you select a Real Estate Agent and are not satisfied with their performance before finding your new home, you may simply tell the Agent that his or her services are no longer needed and go with another Agent unless you have a written contract with that Agent which is most rare. However, it is not necessary nor is it proper protocol to have more than one Agent looking for your home. Most Agents work hard for their clients and today Agents have access basically to the same inventory in all areas. Until next time, home matters.

Yvonne Hefner, a licensed Real Estate Agent, can be reached at 323-650-8812 or at yvonne@canyonnewspaper.com



 

Cliffside Malibu

-------------------------

-------------------------

 

MANHATTAN BEACH

Serving Bel Air, Benedict Canyon, Beverly Hills. Brentwood, Laurel Canyon, Los Feliz, Malibu, Pacific Palisades, Melrose, Santa Monica, Sherman Oaks, Studio City, Topanga, Canyon, Westwood & Hollywood Hills.