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Five costly mistakes to avoid when selling your home

By Robert Bruss, Friday, December 31, 2004.

The National Association of Realtors recently published its year-end home sales statistics for 2004, including upward revisions of both the number of home sales and the median sales prices. According to NAR, home sales volume jumped 7.9 percent from last year to 6.58 million. New-home sales volume rose 8.9 percent over last year to 1.18 million houses and condominiums.

NAR reports the national median existing-home sales price rose 7.9 percent to $182,500, and median new-home sales prices rose 8.9 percent to $214,600. In 2004, housing starts were at the highest level since 1978.  more...

Did contractor rip off homeowner?

By Paul Bianchina, Friday, December 31, 2004.

Q: I had a contractor give me a quote of $2,850 to remove an old oil tank. When they were done, they had ruined my back yard, and their bill was more than $11,000. I feel victimized, but don't know where to turn. Thanks. -Roger A., via e-mail.

A: Without knowing the specifics of your agreement with the contractor, it's difficult to imagine how they went from $2,800 to $11,000. However, generically here are my suggestions:  more...

Design features make home life easier

By Katherine Salant, Friday, December 31, 2004.

If you ask any architect, from the most fuddy-duddy and conventional to the most cutting-edge post-modern genius, what a good building should deliver, most likely you'll hear the same poetic-sounding response: "Commodity, firmness and delight." It sounds good, but what does it mean? And, more importantly, why should you care?  more...

Raines gone, real estate market rocks on

By Janis Mara, Friday, December 31, 2004.

The housing market will continue unscathed despite the departure of the chief executive officer and chief financial officer of Fannie Mae, the country's largest mortgage finance company, industry figures opined.

"Personally, I don't think any one person could have that much influence. I agree with David Lereah (senior vice president of the National Association of Realtors), who says we are still in a housing boom for the next five years nationally," said Michael Godfrey, president of the Bay East Association of Realtors in Pleasanton, Calif.  more...

Relocation group opens doors to other real estate firms

By Glenn Roberts Jr., Friday, December 31, 2004.

A 31-year-old organization for relocation professionals, which formerly had membership exclusive to Century 21 franchises, has broadened its horizons by welcoming other franchises and independent companies.

The Board of Directors for International Relocation Consultants Inc., or Inrelco, voted in October to open the organization's doors to all real estate firms that maintain a relocation department.  more...

New biz models poised for growth in 2005

By Samantha Peterson, Friday, December 31, 2004.

The success of online real estate brokerage ZipRealty's initial public offering has buoyed other companies with alternative business models, boosting their optimism about prospects for 2005.

ZipRealty, a full-service brokerage that rebates part of its sales commission to home buyers and sellers, made its IPO of 4.55 million shares of common stock at $13 per share in November. Net proceeds totaled $61.3 million, higher than the company originally predicted.  more...

Real estate capitalizes on new breed of first-time buyers Premium Content

By Bernice Ross, Friday, December 31, 2004.

As median sales prices have climbed throughout the country, many buyers are unable to purchase property in the city where they live. As a result, many buyers are purchasing their first home far from where they live. With just a few minor adjustments in your marketing strategies, you can capitalize upon this growing trend.

The Saturday after Thanksgiving, the Seattle Post-Intelligencer contained an interesting article about a young couple who lived in Manhattan. The couple could not afford to purchase a home in Manhattan, even though they were paying $2,600 per month in rent.  more...

Yahoo! realty employee navigates home-buying process

By Inman News, Friday, December 31, 2004.