Northeast Los Angeles Real Estate: Information Overload!

By: Tracy King Realty   01/18/2016
Keywords: Tracy King , Highland Park real estate , Washington homes , Northeast Los Angeles

We are in the Information Age to end all Information Ages. Not just when it comes to buying and selling real estate but in all matters of “life”. We are bombarded by all kinds of information all the time thanks to the Internet, hundreds of TV channels, and social media. It's a new world, for sure, and it's exciting, fun, and overwhelming.

This applies to the real estate world in a major way. We can look up a Zestimate of what homes in Glassell Park might be worth by just typing in its address on our phone app. We can see the sales history of homes in Hermon, CA from the beginning of its recorded history. We can watch a video of the inside of the sewer line or chimney of a fixer in Highland Park. We can see how designers are remodeling Highland Park houses on blogs, and how homebuyers are finding their homes on television shows.

These are all things that simply were not available to prospective homebuyers 15 years ago. It's really wonderful that we can know so much about what we could only guess at before. But with all the information comes information overload.

Today, many real estate offices are paperless, but there is even more "paperwork" (and information) to understand than ever before. Every year, the number of disclosures and disclaimers grows, the inspections become more detailed, and the number of articles on “what to pay attention to when buying a home” triples.

What is a buyer supposed to conclude from all this information? Many buyers today do what they always have--they ask their friends and family what they should do. Only now, their friends and family may be thousands of Facebook, Pinterest or Instagram buddies.

Caught up in a multiple offer contest, both buyers and sellers feel exuberant. But when the dust settles and escrow is opened with that magic buyer who loves your house more than anyone else, the inspection period begins. And they discover that no house is perfect.

This is the crux of the matter: Buyers today often feel like they are paying so much for a home that it should be perfect--it should be just like what they see on HGTV inside and out. In 2002, people didn't have access to the technology and information available today. And like today, in 2002-2006, there was little inventory and prices were racing up. But there was no Pinterest, no Instagram, no Facebook posts inviting everyone you know to comment. But what does all of this information, advice, and opinion really mean?

Just like diagnosing your aches and pains on WebMD, there comes the time when you need to consult a professional. We need deeper, more personal knowledge than a website can give us. Buyers and sellers today need to work with knowledgeable professionals who can help them make sense of their data as well.

Keywords: Tracy King , Highland Park real estate , Washington homes , Northeast Los Angeles

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