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Below, you'll find extensive information on leading
market changes favor FSBO articles and products to help you on your way
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Market Changes Favor Fsbos
By Raynor James, Fri Dec 9th
Drastic paradigm shifts in how the residential real estatemarket works have been on the way for several years now. Thechange has really become apparent over the last year. It iseasier for people to sell their homes themselves as FSBOs (forsale by owner) as a result. Let's look at how things used towork and how they work now in regard to the traditional methodof using a real estate brokerage firm, and I think you'll seewhy. Real Estate Sales - The Old Way Not so long ago, most people who wanted to buy a home would goto a real estate broker's office. They would meet with an agentand tell him or her what sort of home they were looking for. Theagent would advise the buyer to get a lender letter (if theydidn't already have one) and give them a short list of lenders.The agent would then do a computer search of the Realtormultiple listing services for them.
After the agent found properties which met the buyer's criteria,the agent and buyer would develop a list of properties the buyerwanted to see. The agent would print these out and makearrangements for the buyer to see them. They'd get into theagent's car and go from house to house until the buyer foundsomething he wanted to buy. Then they'd work up a contract offertogether. Sometimes this process could be completed in one day(especially if the buyer already had a lender letter in hand).Sometimes it took several days' sessions. Real Estate Sales - The New Way Today most homebuyers do their own computer searches. They mayhave favorite sites like realtor.com or homes.com, or they maydo a generic search engine search to find a site. Some do searchengine searches specific to the area where they want to buy,such as "San Diego + California + homes for sale." Results tendto turn up both sites with Realtors' listings
and sites withFSBO homes. Today's buyers tend to call an agent about Realtor listings(often making an appointment to meet at the home) and callowners about FSBO listings. Many buyers are confident enough tolook at both. Less experienced buyers may do their own searchesand then ask an agent to show them the Realtor listings whichinterest them. Then, if they feel comfortable with the agent,ask if the agent can show them the FSBO homes as well. Mostwill. Especially if the buyer is willing to sign a "BuyerBroker" agreement. Exceptions There are now (and perhaps always will be) people who prefer towork with an agent in the old way. People who are very busyearning a good living are an example of one group which is aptto want someone else to do "pick and shovel work" for them.Older people who have lived in their homes a long time and wantsomething they can handle with less work are also apt toappreciate full, old fashioned real estate service from agents.Still, larger and larger numbers of people are doing their owninitial searches. These searches tend to turn up FSBOs as wellas Realtors' listings. In fact more and more people are actuallydoing searches specifically designed to seek out FSBO listings. The New Tilt I think you can see why this movement toward buyers' doing theirown initial searches on the Internet works in favor of FSBOsellers. The propensity for some buyers to include "FSBO" intheir search criteria tilts things even further in favor ofowners who are selling their own properties. These seeminglysimple changes have completely restructured the way theresidential real estate market works. If you're a FSBO, you cansmile all the way to the bank. About the author:Raynor James is with http://www.fsboamerica.org - FSBO homes forsale by owner. Visit our "sell my home" page athttp://www.fsboamerica.org/seller.cfm to sell your own homeyourself with a free 1 month listing.
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NYC Coop Sales Price Now Public Information
It's an old axiom that, despite increasing numbers of condos, coops still account for around 80% of NYC's apartment inventory.
Yet, until recently, the sales figures were shrowded in mystery. No more. A recently passed law allows access to these figures through use of the City's ACRIS system. While the link may not be up for long, you can find a pdf guide to how the system works at NYC.gov/html/dof/html/jump/acris.shtm.
Noah's Ark 2006
In the year 2006, the Lord came unto Noah, who was now living in the United States, and said, "Once again, the earth has become wicked and over-populated, and I see the end of all flesh before me.
Build another Ark and save 2 of every living thing along with a Few good humans."
He gave Noah the blueprints, saying, "You have 6 months to build the Ark before I will start the unending rain for 40 days and 40 nights."
Six months later, the Lord looked down and...
Commercial Rent Prices Up - Square Footage Down?
A recent article in Business Week suggests that the open space model of the dot com era may, actually be a paradigm to enable businesses to reduce one of their largest expenses, namely, commercial office rent.
Yet, the position of the author is hardly universally shared, eliciting a number of rejections and criticisms in the posted comments following the article.
From my own experience, there is no doubt that, technologically, more and more things can be done in more and more places....
Bubble Metrics
I came across a very interesting website, that of the Center for Economic Policy Research, an organization that's done alot of looking into the housing bubble issue and that has alot of articles that you'll find interesting and informative.
What's really noteworthy, though, is a unique bubble calculator that seeks to measure whether you'd be better off renting or buying by plugging in the price, mortgage terms, location and projected hold time into the fields, which then takes into...
Expected Report of Year Over Year 2nd Qtr Condo Price Declines
Today's NY Sun reports that an expected industry report on condo prices will show softening on a year over year basis for the second quarter.
As the article recites, industry analysts opine on whether they foresee a repeat of the coop collapse of the late 1980's when oversupply combined with softening demand and tax reform to cause a sharp drop in prices.
Some, according to the article, feel the City's overall healthy economy will prevent this recurrence in the case of...
Worried about Interest Rates? Tell that to the Rent Guidelines Board
In an unusually raucus session of the Rent Guidelines Board's annual spectacle on guidlines increases for rent stabilized apartments in NYC, the Board members could hardly hear themselves over incessant drum beats from Tenant activists, yet still managed to outrage them, while disappointing landlords in the process.
Read about the meeting and the increases at <a...
Problems When the 1031 Tail Wags the Dog
Here's an interesting article about what happens when investors, in their zeal to meet the stringent time requirements of a 1031 exchange, invest in properties in areas they're unfamiliar with and do so without their usual degree of due diligence.
<a href="http://www.realestatejournal.com/buysell/markettrends/20060615-hagerty.html?refresh=on" >http://www.realestatejournal.com/buysell/markettrends/20060615-hagerty.html?refresh=on</a>
Everybody into the Pool!
When it comes to Terrorism Insurance, the government's days as a reinsurer of last resort are numbered, ending in 2007 following one extension of a temporary act intended to restore confidence among the Nation's insurers and reinsurers following the huge losses suffered as a result of the 9/11 attacks.
A lobbying group called the Real Estate Roundtable, <a href="http://www.rer.org/," >http://www.rer.org/,</a> recently proposed modeling a future system after that...
Taxes and Commercial Real Estate Activity in NY
Today's NY Sun has an interesting article sure to reinvigorate the timeless intellectual arm wrestling about whether booms and busts in real estate are primarily driven by tax policy or the business cycle.
This article focuses on the infamous "Cuomo Tax", formally known as the Real Property Gains Tax, enacted in the '80's by then Governor Mario Cuomo. In short, the tax that excluded townhouses and one and two family houses, surcharged capital gains on most other...
Another View on the Bubble-No Bubble Coin Toss
Glenn Roberts, Jr. of Inman News today quotes from findings of the Anderson Forecast, an economic report out of UCLA.
According to the report, housing is more likely to head for a crash rather than the gradually deflating balloon we've all be hearing about lately.
For more, check out the article ( subscription required) at <a href="http://www.inman.com/hstory.aspx?ID=53488" >http://www.inman.com/hstory.aspx?ID=53488</a>
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Mobile Home Parks - The Bubble Proof Real Estate Investment
By Steve Case
This country has experienced unprecedented gains in housing prices over the past five years. With some regional markets expanding at a phenomenal 25% annual average, the investors who got in early Read more...
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Real Estate Investment Property With Seller Financing & Positive Cash Flow
Go Zone investments are white hot. Many investors are using the go zone depreciation to create massive tax write offs and creating bottom line savings equivalent to a tax cut and money in their Read more...
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The Importance Of A Good Real Estate Investing Guide
It's no surprise that the foreclosure market is at an all time high as it seems that more and more properties continue to face home foreclosure. Because of this increased volume over the past few Read more...
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Selling A Home - What Personal Property Stays?
By Raynor James, Fri Dec 9th
The home selling and buying process can be confusing,particularly when it comes to figuring out what items stay withthe home. This is especially true when it is a FSBO (for sale byowner) Read more...
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