For Sale By Owner

There is onslaught of bad news about home selling regularly in the media but it is also true that recent reports bring cheers to home sellers , having placed advertisement in MLS listings, FSBO category and flat-fee brokerage arrangements.  The home sales statistics of major metros like San Jose, San Francisco, Salt Lake City, Austin and Kansas City glitter with increased home sales and prices.

The real estate experts, who made the in-depth study, are of unanimous opinion that the buying activity from prospective home buyers hinges mainly on right pricing.  The home sellers while releasing advertisements for sales in MLS listings, FSBO category and flat-fee brokerage listings may do well to note this.

Now that the market is flooded with foreclosure properties on distress sale, made available to buyers at a price that is a fraction of their real values, the competition is stiff.  The thinking of any common buyer will automatically tend to go in favor of the huge savings in buying these foreclosure properties.

But that does not mean every home buyer will vote for buying from distress sales, because there are greater risks involved in these properties, mainly in their understandably poor conditions. The home owner, defaulted in payment of mortgage loan and forfeits the property to foreclosure, could not be expected to maintain the property in good stead. The very fact that the financial affordability of the distressed home owner is at doldrums, speaks volumes about the ability to afford repairs and rehabs needed by the home very direly.

Therefore it is obvious that foreclosure properties listed for sale in MLS listings have some adversities while considering for buying, not withstanding their below-market prices.  The repossessed properties by banks and mortgage lenders also fall in the same classification, for upkeep and maintenance of them in a sale-able condition.

It is here the home owners, desirous of releasing advertisements in MLS listings, FSBO category and flat-fee brokerage listings have the necessary leverage.  First of all these home owners make a hard decision to sell their properties out of pressing needs, after exhausting all other options.  So the home selling activity should be planned perfectly to get through with the desired results successfully, given the present market conditions.

The property intended to be sold should be made ready squarely on all aspects – cleanliness, no immediate-repairs and rehabs needed, face lifting by inexpensive techniques like painting etc. to make the prospective buyer feel high about it. Pricing is the most important factor of course, but a well-prepared and ready to occupy secondary home by the owner with the right price, will surely tilt the balance in their favor, looking from the buyers’ angle.