Archive for the ‘FSBO’ Category

Why Realtors Are Unnecessary

Saturday, June 30th, 2007

I run a FSBO blog, I constantly write that FSBO is a very useful thing and Realtors are not. You may ask, how did you, Julie, come to the idea of selling a home by owner? Let me share my thoughts with you.

Having bought and sold 2 homes, I developed an unease and slight mistrust for realtors. The biggest thing is that they do not know the house and they often do not know the neighborhood. More than once, I discovered realtors misrepresenting something or other about the house to potential buyers.

The last two times, I started hanging around during open houses, just to be available to people when they came through. (The realtors don’t really like you to do this, but what can they say?) I found that the moment a potential buyer would find out that the owner was present, they generally made a bee-line right to me to get first-hand information about the house, property and neighborhood. I was able to impart information the realtor could never have known.
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Based upon these experiences, I pretty much came to the conclusion that a realtor was unnecessary. When and if I sell again, I will go FSBO only.

The Fastest Growing U.S. Cities

Thursday, June 28th, 2007

What’s the fastest-growing American city with more than half a million people?

If you guessed Ft. Worth, you are correct. Dallas’ next-door neighbor added more than 20 percent to its population from July 2000 through July 2006, according to the latest estimates from the U.S. Census Bureau.

city.jpg

Top 10 fastest growing large cities are:

Ft. Worth, TX
Phoenix, AZ
Austin, TX
San Antonio, TX
Charlotte, NC
Albuquerque, NM
El Paso, TX
San Jose, CA
Denver, CO
Jacksonville, FL

Source: U.S. Census Bureau

ATTN. FSBO SELLERS: STAY AWAY FROM PAIN IN THE A$$ BUYERS

Thursday, June 28th, 2007

There are 3 buyer types to stay away from. These 3 buyer types can sap up your time and profits… if you allow them to.

Here they are:

1. The no money down buyer.
These buyers must get 100% financing, which can often lead to problems in the loan process.

realestategifthome.jpg

2. A bully buyer.

These buyers think that they can “weasle” a better deal out of you by pointing out every little thing that they see is wrong with the property. And of course, these bully buyers will place a price tag on each defect and either ask for a discount in price or that they be fixed before they buy the property. Yes, it is the responsibility of the buyer to check over the property well… but these bully buyers will point out petty defects just so they can get a discounted price.

3. The sight-unseen buyer.

These buyers can be among the worst and the biggest waste of time for you. Sight-unseen buyers will browse the MLS and throw offers out on homes they like from the pictures. This usually isn’t because they love the house so much… it’s so they can tie up the property to get it off the market. From there they will make a decision on whether they like it or not. This can cost you a lot of time because many sight-unseen buyers will place many clauses in their offer that allow them to easily get out of the offer if they don’t like the house. An easy solution… just require people to set an appointment and actually visit the house.

Open House: Open Concept

Tuesday, June 26th, 2007

The picture of the day :)

open house cartoon

See more funny catroons at www.CartoonStock.com

How to prepare for an open house

Tuesday, June 19th, 2007

Although open house tend to attract a lot of “browsers,” if your home is clean, attractive, well-priced and in good repair, it could turn a “browser” into a buyer. Some purchasers want to get the “feel” of several neighborhoods before they begin working with a Realtor. Open houses will attract these potential buyers.

Most open houses for the public are held on a weekend afternoon when potential buyers often have more time to drive through neighborhoods. If you have pets, we suggest that you should remove them from the home during the open house, since their presence could be distracting.

I also recommend that your family was away from the home during the open house as well. If you remain home, prospective buyers may feel compelled to rush their visit to avoid disturbing you. You want them to feel relaxed and to take the time to really see the features of your property. Potential buyers may also feel uncomfortable commenting on your home in your presence.

open house planner

Here are some general tips to help you prepare for the big day:

(more…)

Do Open Houses Work?

Tuesday, June 19th, 2007

What is the likelihood that your home will sell at an open house? Open houses are an integral part of the home sale business. But, do they work?

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An effective open house can afford potential buyers the opportunity to get a true sense of a home. Since buying a home is one of the most important, and expensive, decisions an individual or couple can make, an open house can not only provide a physical tour of the property, but also an emotional connection with the potential buyer.

Some open house visitors will be neighbors. This is not all bad. Some neighbors have friends or relatives who may want to relocate into the area.

Most people who visit open houses are directed there by the “Open House” signs. This means they don’t have much information about the house when they walk in the front door. So even when open house visitors are legitimate buyers, they may not be well-qualified for the house in question. They may need a larger house or a smaller house, or something more or less expensive.

As a FSBO seller, give your home as much exposure as possible, as often as you can. By putting your house on the market, you are presenting it to every buyer as their potential next dream home. Therefore you’ll want to prepare and stage your home to convey the very best impression.

Homes do sell at open houses! Do you live in a high demand neighborhood with lots of drive by traffic? Will families be passing by on their way home from church or on their way to restaurants and shops? Is your home priced correctly for the neighborhood?

If you can answer yes to these questions, an open house may be an effective marketing tool for your home. Potential buyers who like specific areas will stop to see what is available. If the home is well priced, I have seen buyers write offers on the spot.

If your home is well off the beaten path or you were the only one in the development to add all of the upgrades, open houses might not be successful. Buyers won’t follow more than 3-4 directional arrows and travel more than ½ a mile out of their way. Likewise buyers are frustrated when they do stop but realize that the price tag is $60K higher than the rest of the neighborhood because there are granite counters, cherry wood flooring and custom birch cabinets. If your home falls in either of these categories, open houses might not be successful.

Timing and Duration of Open Houses

For most homeowners, I suggest one open house per month and not longer than 2 hours. (I will do two per month, if the homeowner’s schedule allows.)You should schedule the open house at least one week in advance. This allows time to place ads in the paper as well as on the internet.

Open houses are a valuable tool in selling your home. To be effective, they must be combined with other tools in a complete marketing plan to sell your home.

Can a Blog Sell a House?

Friday, June 15th, 2007

Blog is an excellent marketing tool. Why not use it when selling property by owner? You can start a blog to promote your house right away after you read my post. I just want to tell you about this particular usage of blogs by very small companies — yourself — for a while now.

house for sale

So the question is, can a blog sell a house? Here’s the story which proves that FSBO blog is a powerful selling tool:

“When Mesha Provo, an avid gardener, decided to sell her home in El Sobrante, Calif., she wanted to showcase her property — with its arbor blanketed with wisteria — to appeal to other plant lovers. She started a blog detailing her garden’s story through passionate postings and vibrant close-ups of her flowers, and eventually added pictures of the house. A gardener found her blog — through a flyer put together by a real-estate agent — fell in love with the house, and ultimately paid $612,000 for it, $43,000 more than the asking price.

What the blog did was take a buyer, before he walked through my door, and sold him on my house,” said the 53-year-old Ms. Provo, national sales director of Ballentine Vineyards in Napa Valley.

Cool, isn’t it? This story proves that more and more home sellers turn to blogs to make properties stand out among traditional real-estate listings.

Check out also what Joel Burslem wrote about blogging in real estate Using A Blog to Market a Property on Inman’s blog.

FSBO Blog Reaching Technorati Readers

Tuesday, June 12th, 2007

Just added my FSBO blog to technorati.com, below is the link to my profile there. Hope people searching or browsing through those tag pages will be able to find my blog posts - more exposure, more traffic, hopefully more readers for my FSBO blog.

Technorati Profile

“How Much is Too Much to Fix up Your House?”

Tuesday, June 12th, 2007

I came across a nice article on RealtyTimes.com written by M. Anthony Carr which covers the aspect of redecorating before selling your home and its cost.
 
So how much is Too Much to fix up your house?
 
As with any resale product, the person trying to sell said product will usually try to make the product look as new as possible to ensure the highest profit available. In reviewing many of the homes on the market today, however, some sellers don’t get that notion.
 
Don’t make the mistake of the seller who, knowing full well that buyers were coming by, not only failed to do a fresh clean up, but also left his underwear on the exercise bike, a pan of crusty macaroni and cheese on the stove and debris throughout the yard.
 
There are some task items any seller should consider when selling a house. Even if you decide to sell “as is,” a little soap and water could put a few more bucks in your pocket. With that in mind, let’s look at what sellers should look at doing with any house they want to put on the market; what to do when you want to get a little more money; and how to compete with the Joneses when looking to prepare your home for sale.
 
Any House
 
1. All homes going on the market should receive a deep cleaning. This is the cleaning that you do when … well, you would never do it unless you’re selling your house (or you’re just an absolute neatnik. This involves scrubbing every cranny of the house. Nothing goes unscrubbed. I would suggest bringing in a professional group to get this done and plan on spending a couple hundred bucks (maybe more) to get the house ready for your new buyer.
 
2. Next, declutter the house. Go ahead and rent a huge storage unit and fill it up. Plan this with a bunch of pre-made boxes that have lids you can tape shut and label. Take extra kid’s toys to charity. Donate all clothes that are even a bit too tight or out of date. Remove excess furniture (or even cover with matching covers).
 
3. Repair and paint where needed. As with most homes that have been lived in, that would be all of them. Walk through a new construction home to see what you’re up against and then go and make yours look as best you can on your budget.
 
4. Landscaping. Thankfully, mulch and flowering plants don’t really cost a lot of money for those who are just sprucing up. Before going out and paying for a designer-created landscaping job, start with the local garden center and get some free advice on how to spruce up on a budget. Fresh, flowering plants (even in fall and winter) can make the house look oh-so much better.
 
Even if you’re selling as-is, the above four tips are a must. Next is where we spend a little more money.
 
Redecorating
 
1. Renewed color. Giving your house a makeover doesn’t have to cost you a second mortgage. The first item to consider for rehab is your color selection. While the traditional advice is “go vanilla,” professionally selected colors (not too bold) can make a “nice” house into a “wow” house.
 
2. Flooring is one of the best moderately priced upgrades a seller can install to make a huge difference. While I like the concept of “choose-your-own-carpet” offers in home listings, think about what else it’s saying: “We’re too cheap to fix up the house now, so we’ll let you walk through our tattered, stained carpeting and let you get it installed the weekend after we leave.” Like I said, make your house a “wow” by making that first great impression with new carpet.
 
3. Replacing dated items. Sometimes replacing certain items in the house is really more like maintaining your home instead of upgrading it. Items like windows, doors, light fixtures, faucets, door hardware, etc., need upgrading and replacing periodically. A walk down the light aisle at your favorite hardware store reveals this could be done on a budget. Nevertheless, there’s nothing more gross looking than a brass light fixture that’s chipping and rusting.
 
Keeping up with the Joneses
 
At some point you have to look at what the neighbors are doing and keep up or you’ll lose out. If everyone in the neighborhood is ripping out the old and installing the new (kitchen, bath, carpet, doors, etc.) then you may be forced to do the same thing long before you’re thinking of putting your home on the market. My wife and I are facing that right now with the kitchen. It’s starting to show its age, which means before we put the house on the market in a few years, if I want the best buyer (or any buyer for that matter) the kitchen cabinets need an upgrade.
 
Redo, Remodel, Relax
 
As you look around the house, making your list of things to change before putting the house on the market, remember to create some time to enjoy your new digs before selling the place. If a sale is on your horizon and you must redo the landscaping before putting the house on the market — do it early so you can drive home to the professionally designed flowerbeds and floral creations a few months or years before selling it to someone else.
 
While you want to repair, paint, remodel and add on to your house because it adds value to your home, every homeowner should especially do it because they want to enjoy the changes as well.
 

by M. Anthony Carr
Resource: from http://realtytimes.com/rtcpages/20061020_toomuchfix.htm

FSBO Tips: Maximize Your Home’s Value When YOU Sell

Tuesday, June 12th, 2007

Whether you live in a more expensive or less expensive neighborhood, you can differentiate your home from others by incorporating nice finishes and design elements which give the home style and personality. Be creative with the space you have.

boost home price

Finishes which add to the home’s value and personality include solid, high-quality windows and doors and higher ceilings, as well as interesting exterior details such as pergolas, awnings and landscaping. One of the hottest trends right now is the outdoor room. It’s generally a room that is open-air and substantially covered. Many people are using fire pits and water features to create a charming outdoor environment. What’s fueling the popularity of the outdoor room is that people are entertaining at home again.
Another tip: Create a great backyard space with a “pavilion”. How about a very modern structure for your backyard?

pavillion

I came across this idea today when reading a post about the Pavilion by Richard Schultzon on EquityGreen blog, “Definitely cool looking…done right, you could even add a little value to the house.” Americans are spending more time outdoors, and it’s a trend reflected in our outdoor spaces. So leave the dinosaurs in storage and make that backyard the upscale, up-to-date, uptown gathering place it should be. It may mean a big raise in neighborhood social status and, if that doesn’t convince, a jolt in your home’s resale value. Easy to set up pavillions are available from high-end designers like Schultz, through his company. No pavillion? Let hedges, water features, or flowering vines climbing lattice define your space, and your furniture will do the rest. Then, when your indoor summer gathering gets too heated up, just tell your guests to take it outside.

Another key central home area for entertaining is the kitchen. Seeking to modernize and personalize their kitchens, homeowners are adding new flooring, solid surface countertops, cabinetry, appliances and center islands.

It doesn’t make any difference how large or small your kitchen is, people who come into your house will hang there. It’s so important that the kitchen be a warm, inviting place. Tip: The rule of thumb if you’re remodeling kitchen space is fifteen percent of the value of the home. That figure is approximately ten percent of the home’s value for master bath renovation, according to national guidelines.

When it comes to updating flooring the trend has been away from carpet. Most people are choosing hard wood flooring, tile and laminate. Laminate is like the third party because it’s durable and has the look and feel of wood but none of the maintenance problems.

With the change in the economy over the last few years and the appreciation of home values in the market, people are either trading up or remodeling their homes. People are upgrading their homes by about 25% more. When you look at the values of the homes, you can understand why they’re choosing to maximize their values.

Tip: When you’re redoing a home and putting money into flooring and furniture, use a neutral palate because if you get bored you can add splashes of color in other ways. Neutrals include greens and beiges and not only the walls but the main piece of furniture should also be neutral but very textured, and then you can easily change the look with new accents and accessories.

The trend in tile flooring is large tiles. People are under the impression that small tiles should be used in a small room; but less grout lines are easier to keep clean and the look is more spacious. Tip: The rule of thumb is a minimum of three tiles across an area should determine the size, and putting tiles on the diagonal visually expands the space.

Other tips include using paint colors ranging from deeper to lighter in the same spectrum such as cool colors (water colors or blues and greens) or warm colors (earth colors like reds, greens, tan and khakis) and de-cluttering before you show your home.

Tip: If you have collections, put them in one spot like a table, shelf or mantel, and use different frames for photos.

Tip: Warp Your Room
warp your room

The wallpaper you see in the above picture is not an artist’s rendition of a hallucinogenic experience; it’s actual wallpaper from a German company called Surrealien. I read about these magic wallpapers on Inman’s blog yesterday in the following post and decided to add it as a tip for those who is looking for maximizing home’s value. So how it works. German custom-made warping wallpaper technology accounts for fixtures and frames in the room and then warps the wallpaper pattern around it. You need to send them a detailed technical plan of your room, including doorframes, hangings and outlets, and the company then sends you back specially designed wallpaper. The patterns wrap around objects in the room, giving your crib a unique look. How wicked is that? You decide.