NEW YORK (FORTUNE Magazine) - It never pays to get caught up in group hysteria, especially when it comes to real estate.

Conditions vary from town to town, and no national statistics can give you a clear picture of what's happening in your neighborhood. So don't let headlines spook you into making a costly mistake.

Even simple steps can make a big difference in the price you buy or sell for.

The following stories offer advice that will help you make sure you're getting the best possible deal.

• Tips for sellers and speculators
• Tips for buyers
• Tips if you're staying put

Plus: 7 real estate 'dead' zones...5 'danger' zones

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50-year mortgage hits the market. Full story.

More on real estate. Click here.