Texas For Sale by Owner Blog

February 5, 2010

Home Sales Market Update

Filed under: Uncategorized — Tags: — admin @ 5:16 pm

Dear FSBO’s – The Texas market continues to buck the national trend in home sales. In fact our business showed a 7% gain in closed transactions over the past year. Proof that No Commission Realty and Better Marketing are the keys to successful selling in this type of a market.

Heading into the 2010 selling season, we are “bullish” that sales will remain strong through the spring and early summer. There are however some upcoming events taking place this summer that concern us. A) The New Home Buyer Credit and Existing Homebuyer Credit expire at the end of April (closing must take place by June 30th) B) FHA is changing the minimum requirements. Some of the changes coming down the pipeline are increasing the minimum down payment from 3 1/2 % to 10%, plus limiting the amount a seller can contribute to closing costs from 6% to 3%. C) Interest rates are likely to rise by summer. We have been hearing this one for some time now, we suspect this time it may be for real. We are confident home sales will continue beyond the summer, nonetheless, the next few months may be optimal time for you to put your best foot forward and get your property sold.

Here are a few suggestions: A) Review your price: If necessary, pay to have an independent appraiser give you a true market value. We can give you names of appraisers if you need. B) Market your home properly: Utilize all facets available to you including; Internet, Print and Flat fee MLS. C) Keep your flyer box full. If empty, email flyers@askzeus.com. Give them your ID and they will be happy to send you free color flyers at no charge. D) Update your ad on ForSalebyOwner.com. Buyers look at the days since last updated. If excessive, they may feel the home is no longer on the market. E) Brush up on your skills: home preparation, taking calls, showing the home etc. You can do this by joining us at our next seller seminar on 2/11/2010 from 6:30 – 9:00 at the Westchase Marriot. Call or email us to reserve a seat

Selling By Owner, you are truly in an enviable position compared to your competition. We encourage you to take advantage of what is available to you and act now rather than later. As always, please feel free to call or email with any questions on how we can help you make your FSBO experience successful.

Sincerely,

The For Sale by Owner Team
713-683-0050

December 27, 2009

ForSaleByOwner.com: New Industry Report Gives More Reasons to Sell a Home “By Owner”

Filed under: FSBO in the news — Tags: — admin @ 11:06 am

CHICAGO, Dec. 16, 2009 – ForSaleByOwner.com, the nation’s leading “by owner” real estate website, today hailed a recently released annual report from the National Association of Realtors (NAR) that compared “by owner” home sellers with agent-assisted sellers. NAR’s “2009 Profile of Home Buyers and Sellers” found that home sellers who sell “by owner” on average sell their homes quicker and closer to asking price than agent-assisted sellers. The report also found that more people are using the Internet to search for a home and that real estate agents are no longer the most common way that buyers find the homes that they purchase.

The report from the real estate agent trade association discovered that “by owner” sellers received at least 97% of their asking price on average, while those represented by an agent got at most 95% of their asking price on average. The report found that “by owner” sellers sold their homes in 6 weeks on average, while it took agent-assisted sellers 12 weeks to sell their homes on average. According to the report, 90% of all buyers use the Internet to search for a home, up from 87% in 2008, 80% in 2006 and 71% in 2003.

The report also discovered that, for the first time, the same percentage of buyers found their home on the Internet (36%) as those who found it through a real estate agent (36%). The Internet has become the primary source to find real estate and has trended upwards throughout the decade, while it has trended downward for agents. For example, in 2001, early in the decade, just 8% of buyers found the home they purchased on the Internet while 48% of buyers found it through a real estate agent.

“This report provides ample reasons why the ‘by owner’ home selling method is a great way to sell a house,” said Greg Healy, Vice President of Operations for ForSaleByOwner.com. “In addition to saving on a potentially large commission, a ‘by owner’ seller can expect to sell a home quicker and closer to asking price.”

“Even in a bad housing market, the ‘by owner’ seller is able to outperform agents because the Internet provides the home pricing tools, advertising and marketing, and real estate resources that a seller needs. We are also excited about the fact that an equal percentage of buyers are finding their homes online as through an agent, which is an important milestone for Internet marketing of homes. In over view, the Internet has become the most effective way to find, market and sell a home,” added Healy.

NAR’s “2009 Profile of Home Buyers and Sellers” was based on a questionnaire sent to more than 120,000 consumers who bought a home between July 2008 and July 2009. The survey produced more than 9,100 usable responses.

September 18, 2009

Is an agent really necessary?

Filed under: Selling FSBO — Tags: — admin @ 3:38 pm

In today’s market is the agent really necessary? In our opinion, the traditional full service agent is like a dinosaur… A relic of the past.

Traditionally, realtors were crucial to the process because they:

(1) Were the sources of knowledge and information on such topics as home values, neighborhoods, schools, and the local real estate market,

(2) Provided home sellers with the means of advertising their homes, and access to the MLS,

(3) Provided homebuyers with a consolidated database of existing homes for sale.

Today, all the information a homebuyer or seller needs is available for free on the Internet. FSBO magazines and Internet sites such as For SalebyOwner.com and TexasFSBO.com provide sellers with far-reaching advertising outlets, including Flat Fee MLS listings, for a cost of only a few hundred dollars, and they provide buyers with a convenient and hassle-free means to viewing available houses on the market. Paying exorbitant realtor fees can no longer be justified. YOUR home is YOUR castle. Don’t throw YOUR money away.

For Sale by Owner/My Castle Realty Team #8 in Sales

Filed under: FSBO in the news — Tags: — admin @ 2:53 pm

Congratulations to The For Sale by Owner/My Castle Realty Team for being recognized by The Houston Business Journal as one of The Top 10 offices for home sales, the past three years in a row.  By cutting out the commission and eliminating the hassle of agents in the middle, For Sale by Owner homes typically sell faster with a lot more money left in your pocket.

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