Let the Broker Show the House

Of course you're curious, and you'd like to see what goes on when potential buyers come into your home.

But real estate brokers are just about unanimous in asking that you be absent when they bring people in. Why?. Because although you know your home, the broker knows these buyers. They've already looked at several houses today, they are remarkably suspicious about plumbing problems, and they need a long dining-room wall for an heirloom breakfront.

To take the last requirement first: they'll make a beeline for your dining-room. If it doesn't have that wall, they'll ask to go right on to the next house. And if someone spends only two minutes in your home -- you don't want to know about it!.

As a nervous bystander, you might chatter to them about how the living-room ceiling was just repainted, to get rid of the water stain from that one time when Uncle Marvin let the tub overflow.You'd never realize what needless anxiety this could stir up.

Another problem is the simple matter of overcrowding. It's easy for stairway and halls to jam up. The broker knows enough to linger outside the doorway of small bedrooms.

With you around, buyers are reluctant to open closets, try out windows, stroke bannisters and perform all the small get-acquainted gestures that are the real estate equivalent of kicking the tires on a new car. And they're reluctant to voice objections -- which a good broker can handle properly.

Your agent knows when to fade into the woodwork, and how to keep silent while prospects mentally place their furniture in your master bedroom. In fact, the amount of silence that accompanies an expert house-showing might surprise you.

Falling in love with a house is like falling in love with a person, and three can be a crowd.

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More than 40 states signed onto a proposed $25-billion deal with major mortgage servicers over faulty foreclosure practices. New York, Nevada and Delaware joined California in holding out for better terms.

More than 40 states signed onto a proposed $25-billion settlement with major mortgage servicers over faulty foreclosure procedures, but California, New York and other key states were still not among them.

California has until Monday to share in a multi-state deal with banks to obtain mortgage relief and reforms. Atty. Gen. Kamala Harris, who walked away from talks last year, says the door remains open.

With a Monday deadline at hand, California officials have resumed direct talks with the Obama administration about joining a multibillion-dollar, multi-state mortgage settlement with the nation's largest banks, a source said Sunday.

The talk show host pays $12 million for the 4,088-square-foot house with four bedrooms and four bathrooms. The ocean-view home sits on 1.26 bluff-top acres with beach access.

In one of the more talked-about transactions in town, actors Brad Pitt and Angelina Jolie have sold their Malibu beach house to daytime host and comedian Ellen De Generes for $12 million.

The four-bedroom, five-bathroom house built in 1920 for industrialist James Wigmore lists for $2,875,000.

A decorative cast stone entrance opens to this restored Spanish Colonial Revival-style house in Pasadena's South Orange Grove area. Built in 1920 for industrialist James Wigmore, the house retains such original details as coffered wood ceilings and arched doorways.

They don't believe they can sell their property for what it's worth, so they're spending money on making their homes more comfortable.

Do you fit any of these descriptions?

A biennial research report by the National Assn. of Realtors indicates that a handful of real estate agents and brokers and their clients either don't know the law or don't care to follow it.

When it comes to lawsuits, real estate agents and brokers tangle mostly among themselves.

The president aims to help about 3.5 million people with good credit who are unable to refinance at historically low rates because their homes are worth less than their mortgages.

 

The White House hopes to help millions of homeowners lower their monthly mortgage bill with a $5 billion to $10 billion plan to set up a streamlined refinancing program for people who are current on their payments.

The Standard & Poor's/Case-Shiller index of 20 large U.S. cities fell 1.3% in November from October as foreclosures continue to drag down the housing market.

Three straight months of home-price declines in the biggest U.S. cities showed that foreclosures remain a significant drag on a housing market that is entering its fifth year of deterioration.

L.A. Clipper Chris Paul may be quick down the court, but he moves pretty fast when it comes to buying multimillion-dollar real estate too.