However, continuing to look the other way is no panacea either, as the real estate market is already in the process of collapsing under its own weight.

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The income approach to evaluating real estate is similar to the process for valuing stocks, bonds, or any other income-generating investment.

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On average, one-third of real-estate agents said the appraisal process resulted in buyers and sellers delaying or canceling contracts or renegotiating to a lower sales price last year, according to a National Association of Realtors' monthly survey of roughly 3, 000 agents.

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It also helps to find a reliable real estate agent who can navigate the process.

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But they can help them navigate the legal process through certain issues: dividing real estate or bank accounts, or honoring contracts.

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These often form the basis for a McMenamin restoration process that turns ramshackle real estate into historical theme parks.

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Taking in the good and the bad about these banks, she says removing these toxic assets will easily be a five- to 10-year process, because of the illiquid nature of real estate.

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They are however part of almost every real estate deal and they have become essential in the bidding on a house process.

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Since the housing downturn, Sarasota-based real estate professional John Scherden has found himself working with many buyers and sellers involved in the short sale process.

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But the endowment also received scant interest for its real-estate holdings when it was marketing the funds, according to a person with knowledge of the bidding process.

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