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Real Estate Jargon YouShould Know L ike most industries, real estate has a peculiar language all its own. Learning the jargon isn't difficult, but there is a real risk of hearing and using words you don't fully understand. Even such basic terms as MLS, REALTOR® and the like are widely misunderstood and misused in everyday speech. In the interest of clear communication, here are 10 basic real estate terms related to buying or selling a home and what they really mean: 1. Listing: An agreement between a real estate broker and a home owner that allows the broker to market and arrange for the sale of the owner's home. The word "listing" is also used to refer to the for-sale home itself. A home being sold
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by the owner without a real estate agent isn't a "listing". 2. MLS:Multiple Listing Service. An MLS is an organization that collects, compiles and distributes information about homes listed for sale by its members, who are real estate brokers.
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Winter Warrants EnergyEfficient Efforts A s fall wanes and winter approaches it's time to heat up the house, but not without energy efficient techniques. It's also time to give your home the once over to make sure it's ready to do battle with winter winds, rain, sleet and snow to protect you from the elements. "Put your home on an energy diet to benefit your pocketbook and the planet," says David M. Nemtzow, president of the Washington, D.C.-based Alliance to Save Energy. In the spirit of Energy Awareness Month in October, here's how to keep warm on a budget.
Get a professional tune up for the furnace. Clean or replace air filters once a month to help your unit run as efficiently as possible.
If you are replacing heating or air conditioning systems, major appliances, electronics, or windows, look for the Energy Star label to cut energy consumption by as much at 30 percent.
Consider a programmable thermostat to automatically adjust the temperature up when you need it and down when you don't.
Make sure your attic and or ceiling are well insulated, seal joints in attic air ducts and around windows, doors, electrical outlets and other openings that can admit cold air.
Are Your Pets Soiling Your Chances Of Selling Your Home? P ets are often so loved by their owners that they are allowed the run of the house. At their worst, doggie and kitty dictators mark their territory with pungent odors and unsightly stains. When you love these little furry friends, it's hard to realize how much these pets may be hurting your marketing efforts in selling your home. If you are like most pet lovers, you may be a little on the sensitive side. If your listing agent is having a hard time communicating with you about your pets and their effect on buyers and other agents, perhaps a look at this neutral third-party list of suggestions may help you understand the problem better: 1. If it smells, it won't sell. Your pet may be perfectly well mannered, but that doesn't mean your home is odor-free. Most pet odor comes from fur and dander. Pets mark their territory by rubbing their fur on objects. That's why your kitty rubs your ankles with her sides. Minimize pet odors by not allowing your pets to sleep on couches and carpets. Provide them with a cuddly bed of their own and reward them lavishly whenever they use it. Deodorize often with Febreze, a product found on most grocery store shelves. Keep pets bathed and groomed more often than usual, so as not to add to existing pet odor. 2. Stains don't have to be permanent. There are many good products to clean pet stains. Just visit your local pet store or key "pet stains" into your favorite search engines. What you will find are companies with advice
Negotiating To Yes N egotiating a purchase agreement is perhaps the trickiest aspect of any real estate transaction. Most home buyers and home sellers want to arrive at a win-win agreement, but that's not to say either side would regret getting a bigger "win" than the other. Successful negotiating is more than a matter of luck or natural talent. It also encompasses the learned ability to use certain skills and techniques to bring about those coveted win-win results. Here are six tips and suggestions to turn negotiation into agreement: 1. Start with a fair price and a fair offer. There's no question that significantly overpricing your home will turn off potential buyers. Likewise, making an offer that's far lower than the asking price is practically guaranteed to alienate the sellers. Asking and offering prices should be based on recent sales prices of comparable homes. 2. Respect the other side's priorities. Knowing what's most important to the person on the other side of the negotiating table can help you avoid pushing too hard on hot or sensitive issues. For example, a seller who won't budge on the sales price, might be willing to pay more of the transaction costs or make more repairs to the home, while a buyer with an urgent move-in date might be willing to pay a higher portion of the transaction costs or forgo some major repairs.
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