Must be the season for reasons

The editorial cartoon from the Philadelphia Daily News on Monday caught our attention. The sketch depicts a man listing his accomplishments: "I climbed Mount Everest" he says in the first picture. "Scaled the walls of the Grand Canyon" he continues, "and survived being lost on a deserted island." The last sketch shows the same man in front of a house with a "For Sale" sign in the yard. The man then says, as he looks at the sign, "But this is my toughest challenge yet."

Then a reader brought to our attention an article appearing Monday on MSN Real Estate (www.msn.com). The article entitled, "5 reasons you still need a real estate agent." Seemed to reinforce the thoughts of the man in the cartoon. From the article:

1. Better access/more convenience. This section supports the fact that it is a real estate agent's full-time job to act as liaison between buyers and sellers. It also promotes the fact that we have access to the Multiple Listing Service databases and know how to put deals together.

2. Negotiating is tricky business. Unfortunately, buyers and sellers are not always reasonable. The agent cannot afford to approach the transaction emotionally, as a buyer or seller may naturally do so the deal is more likely to get done without alienating either party.

3. Contracts can be hard to handle. An agent works with contacts regularly and can help you avoid clauses that expose you to liability should something not go according to plan.

4. Real estate agents can't lie. Now before you laugh, remember that real estate agents are licensed and therefore have more to lose (their livelihood) than an unlicensed buyer or seller.

5. Not everyone can save money. Although you may be inclined to sell without an agent hoping to save a commission. Buyers will also hope to negotiate that commission amount off the price of your home.

Then we found a five item article from the online Wall Street Journal (www.wsj.com) called, "Advice for first-time homebuyers," that listed five mistakes buyers make:

1. Snubbing the real estate agent. When you hire an agent they are obligated to put your best interests first. A buyer's agent is paid by the seller.

2. Guesstimating how much you can afford: Using an online calculator to determine what you can afford can be misleading. Better to sit down with a lender to get a handle on the real costs of financing a home.

3. Letting charm cloud your judgment: A charming older home may cost you dearly in repairs or remodeling expenses.

4. Focusing on the house, not the hood. Don't just buy the house, explore the neighborhood to determine if it fits your lifestyle.

5. Making arbitrary offers. Don't be quick to lowball. Even in hard hit markets, desirable properties in desirable neighborhoods are receiving multiple offers.

And the final five comes from the National Association of Realtors (www.realtor.org) "5 reasons homeownership trumps renting:"

1. Be your own landlord. The bank can only kick you out if you don't pay. A landlord can be much less dependable.

2. Paying the principle is forced savings. The real estate market could fall farther and your 401k could lose value. In the long term, both should enjoy modest gains.

3. Fixed rate mortgages never rise - and eventually you pay them off. Agreeing to a mortgage now with the low, low interest rates you can lock in a real bargain.

4. Good Schools. It may be easier and cheaper by the month to find a home to buy rather than rent near the school of your choice.

5. Spacious properties in pleasant neighborhoods. Sizable homes in attractive communities are almost always owned, not rented.

For the complete text of any of the articles cited visit their websites.

For a safe trip home, call a Realtor. Call your Realtor or visit www.cdarealtors.com to search properties on the Multiple Listing Service or to find a Realtor member who will represent your best interests.

Kim Cooper is a real estate broker and the spokesman for the Coeur d'Alene Association of Realtors. Kim and the association invite your feedback and input for this column. You may contact them by writing to the Coeur d'Alene Association of Realtors, 409 W. Neider, Coeur d'Alene, ID 83815 or by calling (208) 667-0664 with your questions or commentary.