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To FSBO Or Not To FSBO Article

Real estate icon Hal Ellis dies
A legend in the Bay Area real estate arena, longtime area developer Hal Ellis died today at 77. Ellis was chairman of Ellis Partners, a company he started in 1993.
Blount Street Commons delayed
The economy has slowed down the development of the 21-acre Blount Street Commons project in downtown Raleigh.
National Association of Realtors pending sales index drops
The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy.
National Association of Realtors pending sales index drops
The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy.
National Association of Realtors sales index declines
The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy.
National Association of Realtors pending sales index drops
The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy.
National Association of Realtors pending sales index drops
The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy.
Macy?s may be out of revamped Kingsdale
Redevelopment of the Kingsdale Shopping Center in Upper Arlington could eventually expand to include the Macy’s Inc. department store that anchors the 50-year-old suburban retail property.
Crye-Leike sales volume dives 26% in 2008
If 2008 was a rough year for residential real estate, it didn’t show at the 32nd annual Crye-Leike Realtor Kick-off, held this morning at the University of Memphis Holiday Inn.
Cornerstone Bank taps Feaster as CEO
The founder of the former Signature Bank, David Feaster, has been named president and chief executive of Cornerstone Community Bank. (WNTY)
King County?s home sales stagnant in December
The number of pending home sales last month in King County dropped by more than 21 percent compared with a year earlier.
Constar to be delisted by NASDAQ
Constar International Inc. said Tuesday that its common stock will be delisted from the NASDAQ Stock Market at the opening of business Thursday. (CNST)
National Association of Realtors pending sales index drops
The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy.
CMHA board dispute has day in court
The city of Cincinnati will not appoint a new board member to the Cincinnati Metropolitan Housing Authority until late February at the earliest, city officials revealed at a court hearing Tuesday morning.
Pending home sales hit historic low in November
An index measuring sales contracts for houses and condos fells to its lowest point ever in November, the National Association of Realtors reported Tuesday.
National Association of Realtors pending sales index drops
The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy.
Great Mall of the Great Plains sells for $20.5 million
Glimcher Realty Trust said Tuesday that it has sold The Great Mall of the Great Plains in Olathe for $20.5 million. (GRT)
BBB unveils letter grades for businesses
The Better Business Bureau of Eastern Missouri and Southern Illinois said Tuesday it would assign letter grades to area businesses ranging from A+ to F.
Pending home sales decline in November
An index measuring sales contracts for houses and condos fells to its lowest point ever in November, the National Association of Realtors reported today.
Jim Walter Homes shutters Alabama offices
Walter Industries Inc. has closed its homebuilding subsidiary, Jim Walter Homes, including its last Alabama sales offices. (WLT)
Glimcher sells Kansas mall
Glimcher Realty Trust has closed a deal to sell the Great Mall of the Great Plains in Olathe, Kan., its latest effort to unload “non-strategic” properties and focus on high-growth malls. (GRT)
Honolulu jobless rate up to 4.4% in November
Honolulu’s jobless rate was 4.4 percent in November, up from 3.8 percent in October, according to the latest data from the U.S. Bureau of Labor Statistics.
Report: Economic recovery a year away
Florida lost more than 150,000 jobs in the past 12 months and it’s only the beginning, said a report by Attorneys’ Title Insurance Fund.
National Association of Realtors pending sales index drops
The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy.
Honolulu office market remains stable
Honolulu’s office market escaped much of the crisis that hit Mainland commercial real estate markets to end 2008 with only moderate differences from the year before, according to a new report.
Tampa to see housing market recovery by 2010, economist says
The Tampa housing market isn’t expecting to rebound this year as population declines and struggling employment numbers continue to be coupled with excess inventory.
Study: Fla. recession to last until 2011
Florida’s economy, like that of the rest of the nation, is suffering through an epic economic recession that isn’t expected to recover until 2011, according to a report released Tuesday by the Attorneys’ Title Insurance Fund.
D-FW apartment sector feels economic woes
A new study from M/PF Yieldstar says apartment occupancy in the Dallas-Fort Worth area during the final quarter of 2008 fell enough to negatively counter the area’s significant apartment rental growth the year prior.
Milwaukee home prices up, bucking trend
Milwaukee was the only one of 25 major cities where home prices rose from year-ago levels in October, according to a monthly report from real estate data firm Radar Logic.
Study: Fla. recession to last until 2011
Florida’s economy, like that of the rest of the nation, is suffering through an epic economic recession that isn’t expected to recover until 2011, according to a report released Tuesday by the Attorneys’ Title Insurance Fund.
Report: Ga. mortgage rates among lowest
Georgia had the second-lowest 30-year fixed mortgage rates last week, according to real estate Web site Zillow.com
Northwest building trades for $5.5M
Ritte Company has bought 1730 Massachusetts Ave. NW from the Institute for Electrical and Electronic Engineers Inc. for $5.5 million.
Oahu home prices stable in 2008
Home prices on Oahu fluctuated by single digits in December, while the number of sales fell by more than 19 percent year over year.
Kauai home sales fall 30%
Home sales on Kauai were down by more than 30 percent in December, and also were down by more than 30 percent for the whole year, according to new statistics.
Big Island home sales continue to fall
Home sales on the Big Island fell in December, mirroring the trend of a drop in sales of about 30 percent for all of 2008.
Abraxas reports success with South Texas well
Abraxas Petroleum Corp. reports a new gas well in South Texas is producing 600,000 cubic feet of gas per day. (AXAS)
City lays off eight development services workers
Sacramento on Monday announced it has laid off eight workers in the city’s development services department due to falling revenue.
Report: Tough times for Austin CRE in ?09
While Austin’s economy continues to fare better than that of other U.S. cities, 2009 will be a challenging year for commercial real estate, according to a global forecast released Monday by Grubb & Ellis Co. (NYSE: GBE). (GBE)
Southeast economy has more of the same in store in 2009
The Southeast can look forward to “more of the same” in 2009 when it comes to the regional economy, according to the Federal Reserve Bank of Atlanta.
Balfour Beatty buys into two Texas projects
Balfour Beatty Communities has paid $142 million to gain an interest in two phases of a military housing project in Texas.
N.C. foreclosures jumped 9% in 2008
The number of foreclosures in North Carolina increased by 9 percent in 2008, new state data show.
Montgomery County makes personnel changes
Montgomery County is making changes to its administrative hierarchy, promoting Assistant County Administrator Joe Tuss to second-in-command, it announced Monday.
N.C. foreclosures jumped 9% in 2008
The number of foreclosures in North Carolina increased by 9 percent in 2008, new state data show.
Orlando group plans Austin project
More than a year after it dropped plans for a massive, mixed-use development in Leander, Avalon Park Group Management Inc. of Orlando is re-entering the Austin market, this time on a smaller scale.
Economy to dominate ?09 Missouri General Assembly session
Economic issues will take a front seat during this year’s General Assembly session as Missouri lawmakers grapple with a projected $342 million budget shortfall and ways to fuel job growth amid a recession.
Mathews Nichols joins Allie Beth Allman
The Mathews Nichols Real Estate Group is beginning the new year with a new company.
Triad's Crisco named N.C. commerce sec'y
Gov.-elect Beverly Perdue on Monday named Asheboro businessman Keith Crisco as her choice for state Secretary of Commerce.
New Yorkers' confidence goes from ?worse? to ?bad?
New Yorkers’ consumer confidence has improved from “worse” to “bad,” according to the latest Siena Research Institute poll.
Real Estate Roundup: Fournier Group moves to Kaplan Building penthouse
The Fournier Group, a Portland-based insurance and financial services group, has moved its headquarters to the penthouse condo at the Kaplan Building, 510 S.W. Fifth St.
Progress Energy issues earnings prediction for 2009
Progress Energy’s earnings growth could slow in 2009 as the company cuts costs to deal with the economy. (PGN)
Lawmakers move to plug $2.3B budget gap
Business groups will be watching warily when Florida lawmakers return Jan. 5 to the Capitol to work on closing a $2.3 billion hole in the state’s $66 billion budget.
The housing market in 2009? It?s anyone?s guess
We asked three experts in the local housing market what to expect in 2009. We got three different answers.
Banks gear up for major shifts resulting from mergers
Coming off one of the toughest years in decades, most local bankers are hoping for a respite from the turmoil in 2009. They probably won’t get it.
Dorothy Bridges
Dorothy Bridges, one of only a handful of black female bank chief executive officers in the nation, took over in September 2008 as head of District-based City First Bank.
Drees, others file suit over HUD ruling
Fort Mitchell-based Drees Co. and several dozen national home builders have filed a complaint against the U.S. Department of Housing and Urban Development.
Attorney: Hale ?trying to work something out? over condo project
Baltimore developer Edwin F. Hale Sr. has defaulted on a $10 million loan taken out to finance Canton Crossing, a high-profile waterfront development in Baltimore City anchored by the 17-story First Mariner Bank tower, according to court documents.
Apartments sell for $4.8M; Nursing home union vote
City apartments sell for $4.8 million The Evergreen Village apartment building on the southwest side of Milwaukee sold for $4.8 million in December, $1 million more than it sold for in September 2002.
Biggest backlog of sales in King County hits Alki beach community
The quirky neighborhood of Alki Beach has long been known for its extensive coastline, its crusty seafood joints and its weathered surf shops, all of which are pounded by waves of Seattle tourists each summer.
Many condos for sale in Alki Beach community, but only one sign, please
There’s a slew of condos on the market in Alki but you wouldn’t know it from the “For Sale” signs — or lack of them.
Developer sells Whidbey vacation cottages to seniors instead
When a Colorado developer dreamed up Langley Garden Bungalows, he believed the Whidbey Island cottage community would draw baby boomer Seattleites looking for vacation homes.
Residential real estate
It was the year of the bargain hunter in residential real estate in Sacramento. First-time homebuyers snapped up foreclosed homes, investors hoped to capitalize on foreclosure prices and future residential development land traded at steep discounts.
Downtown Raleigh condo sales are slow, steady
RALEIGH – Downtown Raleigh condominium projects are not meeting the goals set by developers when dirt was turned, but slow and steady progress is being made despite a dire environment for the housing sector.
Lenders foresee the unforeseen
For those trying to maintain the flow of credit to small businesses and homebuyers, 2008 was an unsettling year. If New Mexico fared somewhat better than other states, nerves were perhaps all the more on edge as lenders waited for the other shoe to drop — as it just might in 2009.
San Felipe Pueblo?s housing stock grows with MFA?s help
San Felipe Pueblo is partnering with the New Mexico Mortgage Finance Authority on more than 30 rehabs and new construction projects on its homeland, halfway between Albuquerque and Santa Fe.
Apartments in outlying areas not experiencing drastic uptick in renters
While changes in the housing market are constantly on the move, to date Delaware and Licking counties have apparently not experienced a significant shift to apartment living. Licking County landlords, for instance, said it’s still business as usual – sort of – despite the unusual times.
With rental housing at a premium, older complexes need a facelift
A resurgence in apartment living brought on, in part, by the increase in foreclosures means a lot of properties need a facelift.
Apartment developers weigh options
A decline in job growth, a rising unemployment rate, unavailable credit and high vacancy rates have created a perfect storm of problems for the apartment sector, leaving real estate experts wary as the market enters 2009.
Chance Gordy optimistic about future of multifamily projects
Chance Gordy believes in the future of downtown condo living.
How do people looking to buy townhomes differ from those looking at single-family homes?
Cindy Manning, Realtor, Re/Max Town Centre: “Typically, demographics for townhomes have been first-time homeowners or an empty-nester who needs to downsize. Demographics for the single-family homebuyer are those who want much more space, a yard and want to get away from the feeling of an apartment lifestyle. Townhomes seem to be more attractive now because of price, low maintenance, amenities — most of them are new and updated.”
Egbert Perry will help fix mortgage giant Fannie Mae
Atlanta-based urban developer Egbert Perry has joined the board of troubled mortgage giant Fannie Mae, whose near collapse four months ago threatened to sink America’s housing market.
Little house on the infill
Chad Ludeman is building green homes that are affordable, and they even come with a blog and a happy hour.
Housing slump doesn?t scare Realtors? prez
Jim Alexander takes the reins of the Atlanta Board of Realtors (ABR) as the housing market is in the midst of a historic downturn and the group’s membership is in steep decline.
Green condos are still attracting buyers at listing price
When Kelly Hough received her energy bill last summer, she thought the electric company had made a mistake.
Jacksonville real estate is in for a rough 2009
Last year was rough for the commercial and residential real estate market, and 2009 isn’t expected to get much better.
There?s plenty of supply, but buyers aren?t getting loans
One way to look at the future of residential real estate is in terms of the classic supply and demand dynamic, except that those two factors are unlike anything industry veterans have ever seen.
Home sales offer 2009 litmus test
Entering 2009, housing is perhaps the most significant sign on the road to New Mexico’s recovery. If housing continues to soften, New Mexico’s recession is likely to be bumpy and prolonged.
Buyers, tenants stand to gain amid turmoil
The 2009 outlook for real estate — commercial as well as residential — is grim.
Apartment plan banks on new appeal of renting
Turning an old elementary school in Schenectady into luxury apartments might seem dicey right now because of the economy, but the timing could work in Franca DiCrescenzo’s favor.
Executive domains: Financial District loft puts the city at your front door
Neighborhoods are taking hold in Boston’s Financial District where, unlike the Back Bay or many of the South End’s long-established residential communities, buildings originally built for industrial use are being transformed.
10 To Watch: Mark DeWeese
GRAHAM — To say 2008 has been rough for Triad home builders is probably being generous. Mark DeWeese, president of Empire Homes in Graham, knows that as well as anyone.

Below, you'll find extensive information on leading to FSBO or not to FSBO articles and products to help you on your way to success.

To Fsbo Or Not To Fsbo?
Each year many homeowners decide to maximize the profit on their home sales by selling it “For Sale By Owner”. At first glance, this is the most tempting option to most homeowners especially in the current real estate market with its rapid appreciation rate. Why pay substantial broker fees when they can pocket several thousand dollars themselves? While this attitude is completely understandable it doesn’t realistically reflect the services a professional realtor truly does offer.

Last year, according to the National Association of Realtors “Profile of Home Buyers and Sellers”, 13 percent of all home sellers chose the FSBO route. More telling than these numbers, is the fact that one third of all FSBOs sold their homes to someone they knew prior to the transaction which means that the actual figure of FSBO transactions to strangers is realistically at eight percent. This is a significant downward trend from 18 percent eight years ago.

Even more telling was that only half of last year’s FSBOs, according to the article, plan to go it alone again. Why? Many FSBOs are not aware of the increasing complexities of the transaction process, especially in California, with more complex disclosures and legal requirements required than ever before. In addition, they were often unprepared for the required time to market and show their property, the competitiveness of the real estate industry, and awareness of the various fees required for outside consultants, inspectors, appraisers, title companies, escrow and loan officers.

Of course, this does not mean that selling your home via FSBO is not a good option for some home sellers, in some cases it may be. However what it does mean is that you need a clear idea of what responsibilities you will be assuming in contrast to hiring a professional realtor and calculating whether the costs and time invested will be worth it to you.

Some questions to consider if you intend to FSBO:

1) Do I have the time, energy, skill-set and ability to devote in selling my home? 2) Am I prepared to deal with an onslaught of buyers, including savvy investors and realtors, who perceive FSBO’s as targets for low balling? 3) Do I know how to market my property properly? 4) Am I familiar with the trends in the national real estate industry as well as my local real estate market?

Real estate icon Hal Ellis dies
A legend in the Bay Area real estate arena, longtime area developer Hal Ellis died today at 77. Ellis was chairman of Ellis Partners, a company he started in 1993.
Blount Street Commons delayed
The economy has slowed down the development of the 21-acre Blount Street Commons project in downtown Raleigh.
National Association of Realtors pending sales index drops
The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy.
National Association of Realtors pending sales index drops
The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy.
National Association of Realtors sales index declines
The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy.
National Association of Realtors pending sales index drops
The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy.
National Association of Realtors pending sales index drops
The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy.
Macy?s may be out of revamped Kingsdale
Redevelopment of the Kingsdale Shopping Center in Upper Arlington could eventually expand to include the Macy’s Inc. department store that anchors the 50-year-old suburban retail property.
Crye-Leike sales volume dives 26% in 2008
If 2008 was a rough year for residential real estate, it didn’t show at the 32nd annual Crye-Leike Realtor Kick-off, held this morning at the University of Memphis Holiday Inn.
Cornerstone Bank taps Feaster as CEO
The founder of the former Signature Bank, David Feaster, has been named president and chief executive of Cornerstone Community Bank. (WNTY)
King County?s home sales stagnant in December
The number of pending home sales last month in King County dropped by more than 21 percent compared with a year earlier.
Constar to be delisted by NASDAQ
Constar International Inc. said Tuesday that its common stock will be delisted from the NASDAQ Stock Market at the opening of business Thursday. (CNST)
National Association of Realtors pending sales index drops
The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy.
CMHA board dispute has day in court
The city of Cincinnati will not appoint a new board member to the Cincinnati Metropolitan Housing Authority until late February at the earliest, city officials revealed at a court hearing Tuesday morning.
Pending home sales hit historic low in November
An index measuring sales contracts for houses and condos fells to its lowest point ever in November, the National Association of Realtors reported Tuesday.
National Association of Realtors pending sales index drops
The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy.
Great Mall of the Great Plains sells for $20.5 million
Glimcher Realty Trust said Tuesday that it has sold The Great Mall of the Great Plains in Olathe for $20.5 million. (GRT)
BBB unveils letter grades for businesses
The Better Business Bureau of Eastern Missouri and Southern Illinois said Tuesday it would assign letter grades to area businesses ranging from A+ to F.
Pending home sales decline in November
An index measuring sales contracts for houses and condos fells to its lowest point ever in November, the National Association of Realtors reported today.
Jim Walter Homes shutters Alabama offices
Walter Industries Inc. has closed its homebuilding subsidiary, Jim Walter Homes, including its last Alabama sales offices. (WLT)
Glimcher sells Kansas mall
Glimcher Realty Trust has closed a deal to sell the Great Mall of the Great Plains in Olathe, Kan., its latest effort to unload “non-strategic” properties and focus on high-growth malls. (GRT)
Honolulu jobless rate up to 4.4% in November
Honolulu’s jobless rate was 4.4 percent in November, up from 3.8 percent in October, according to the latest data from the U.S. Bureau of Labor Statistics.
Report: Economic recovery a year away
Florida lost more than 150,000 jobs in the past 12 months and it’s only the beginning, said a report by Attorneys’ Title Insurance Fund.
National Association of Realtors pending sales index drops
The National Association of Realtors Pending Home Sales Index has dropped to a record low as the housing market continues to weigh on an already distressed economy.
Honolulu office market remains stable
Honolulu’s office market escaped much of the crisis that hit Mainland commercial real estate markets to end 2008 with only moderate differences from the year before, according to a new report.
Tampa to see housing market recovery by 2010, economist says
The Tampa housing market isn’t expecting to rebound this year as population declines and struggling employment numbers continue to be coupled with excess inventory.
Study: Fla. recession to last until 2011
Florida’s economy, like that of the rest of the nation, is suffering through an epic economic recession that isn’t expected to recover until 2011, according to a report released Tuesday by the Attorneys’ Title Insurance Fund.
D-FW apartment sector feels economic woes
A new study from M/PF Yieldstar says apartment occupancy in the Dallas-Fort Worth area during the final quarter of 2008 fell enough to negatively counter the area’s significant apartment rental growth the year prior.
Milwaukee home prices up, bucking trend
Milwaukee was the only one of 25 major cities where home prices rose from year-ago levels in October, according to a monthly report from real estate data firm Radar Logic.
Study: Fla. recession to last until 2011
Florida’s economy, like that of the rest of the nation, is suffering through an epic economic recession that isn’t expected to recover until 2011, according to a report released Tuesday by the Attorneys’ Title Insurance Fund.
Report: Ga. mortgage rates among lowest
Georgia had the second-lowest 30-year fixed mortgage rates last week, according to real estate Web site Zillow.com
Northwest building trades for $5.5M
Ritte Company has bought 1730 Massachusetts Ave. NW from the Institute for Electrical and Electronic Engineers Inc. for $5.5 million.
Oahu home prices stable in 2008
Home prices on Oahu fluctuated by single digits in December, while the number of sales fell by more than 19 percent year over year.
Kauai home sales fall 30%
Home sales on Kauai were down by more than 30 percent in December, and also were down by more than 30 percent for the whole year, according to new statistics.
Big Island home sales continue to fall
Home sales on the Big Island fell in December, mirroring the trend of a drop in sales of about 30 percent for all of 2008.
Abraxas reports success with South Texas well
Abraxas Petroleum Corp. reports a new gas well in South Texas is producing 600,000 cubic feet of gas per day. (AXAS)
City lays off eight development services workers
Sacramento on Monday announced it has laid off eight workers in the city’s development services department due to falling revenue.
Report: Tough times for Austin CRE in ?09
While Austin’s economy continues to fare better than that of other U.S. cities, 2009 will be a challenging year for commercial real estate, according to a global forecast released Monday by Grubb & Ellis Co. (NYSE: GBE). (GBE)
Southeast economy has more of the same in store in 2009
The Southeast can look forward to “more of the same” in 2009 when it comes to the regional economy, according to the Federal Reserve Bank of Atlanta.
Balfour Beatty buys into two Texas projects
Balfour Beatty Communities has paid $142 million to gain an interest in two phases of a military housing project in Texas.
N.C. foreclosures jumped 9% in 2008
The number of foreclosures in North Carolina increased by 9 percent in 2008, new state data show.
Montgomery County makes personnel changes
Montgomery County is making changes to its administrative hierarchy, promoting Assistant County Administrator Joe Tuss to second-in-command, it announced Monday.
N.C. foreclosures jumped 9% in 2008
The number of foreclosures in North Carolina increased by 9 percent in 2008, new state data show.
Orlando group plans Austin project
More than a year after it dropped plans for a massive, mixed-use development in Leander, Avalon Park Group Management Inc. of Orlando is re-entering the Austin market, this time on a smaller scale.
Economy to dominate ?09 Missouri General Assembly session
Economic issues will take a front seat during this year’s General Assembly session as Missouri lawmakers grapple with a projected $342 million budget shortfall and ways to fuel job growth amid a recession.
Mathews Nichols joins Allie Beth Allman
The Mathews Nichols Real Estate Group is beginning the new year with a new company.
Triad's Crisco named N.C. commerce sec'y
Gov.-elect Beverly Perdue on Monday named Asheboro businessman Keith Crisco as her choice for state Secretary of Commerce.
New Yorkers' confidence goes from ?worse? to ?bad?
New Yorkers’ consumer confidence has improved from “worse” to “bad,” according to the latest Siena Research Institute poll.
Real Estate Roundup: Fournier Group moves to Kaplan Building penthouse
The Fournier Group, a Portland-based insurance and financial services group, has moved its headquarters to the penthouse condo at the Kaplan Building, 510 S.W. Fifth St.
Progress Energy issues earnings prediction for 2009
Progress Energy’s earnings growth could slow in 2009 as the company cuts costs to deal with the economy. (PGN)
Lawmakers move to plug $2.3B budget gap
Business groups will be watching warily when Florida lawmakers return Jan. 5 to the Capitol to work on closing a $2.3 billion hole in the state’s $66 billion budget.
The housing market in 2009? It?s anyone?s guess
We asked three experts in the local housing market what to expect in 2009. We got three different answers.
Banks gear up for major shifts resulting from mergers
Coming off one of the toughest years in decades, most local bankers are hoping for a respite from the turmoil in 2009. They probably won’t get it.
Dorothy Bridges
Dorothy Bridges, one of only a handful of black female bank chief executive officers in the nation, took over in September 2008 as head of District-based City First Bank.
Drees, others file suit over HUD ruling
Fort Mitchell-based Drees Co. and several dozen national home builders have filed a complaint against the U.S. Department of Housing and Urban Development.
Attorney: Hale ?trying to work something out? over condo project
Baltimore developer Edwin F. Hale Sr. has defaulted on a $10 million loan taken out to finance Canton Crossing, a high-profile waterfront development in Baltimore City anchored by the 17-story First Mariner Bank tower, according to court documents.
Apartments sell for $4.8M; Nursing home union vote
City apartments sell for $4.8 million The Evergreen Village apartment building on the southwest side of Milwaukee sold for $4.8 million in December, $1 million more than it sold for in September 2002.
Biggest backlog of sales in King County hits Alki beach community
The quirky neighborhood of Alki Beach has long been known for its extensive coastline, its crusty seafood joints and its weathered surf shops, all of which are pounded by waves of Seattle tourists each summer.
Many condos for sale in Alki Beach community, but only one sign, please
There’s a slew of condos on the market in Alki but you wouldn’t know it from the “For Sale” signs — or lack of them.
Developer sells Whidbey vacation cottages to seniors instead
When a Colorado developer dreamed up Langley Garden Bungalows, he believed the Whidbey Island cottage community would draw baby boomer Seattleites looking for vacation homes.
Residential real estate
It was the year of the bargain hunter in residential real estate in Sacramento. First-time homebuyers snapped up foreclosed homes, investors hoped to capitalize on foreclosure prices and future residential development land traded at steep discounts.
Downtown Raleigh condo sales are slow, steady
RALEIGH – Downtown Raleigh condominium projects are not meeting the goals set by developers when dirt was turned, but slow and steady progress is being made despite a dire environment for the housing sector.
Lenders foresee the unforeseen
For those trying to maintain the flow of credit to small businesses and homebuyers, 2008 was an unsettling year. If New Mexico fared somewhat better than other states, nerves were perhaps all the more on edge as lenders waited for the other shoe to drop — as it just might in 2009.
San Felipe Pueblo?s housing stock grows with MFA?s help
San Felipe Pueblo is partnering with the New Mexico Mortgage Finance Authority on more than 30 rehabs and new construction projects on its homeland, halfway between Albuquerque and Santa Fe.
Apartments in outlying areas not experiencing drastic uptick in renters
While changes in the housing market are constantly on the move, to date Delaware and Licking counties have apparently not experienced a significant shift to apartment living. Licking County landlords, for instance, said it’s still business as usual – sort of – despite the unusual times.
With rental housing at a premium, older complexes need a facelift
A resurgence in apartment living brought on, in part, by the increase in foreclosures means a lot of properties need a facelift.
Apartment developers weigh options
A decline in job growth, a rising unemployment rate, unavailable credit and high vacancy rates have created a perfect storm of problems for the apartment sector, leaving real estate experts wary as the market enters 2009.
Chance Gordy optimistic about future of multifamily projects
Chance Gordy believes in the future of downtown condo living.
How do people looking to buy townhomes differ from those looking at single-family homes?
Cindy Manning, Realtor, Re/Max Town Centre: “Typically, demographics for townhomes have been first-time homeowners or an empty-nester who needs to downsize. Demographics for the single-family homebuyer are those who want much more space, a yard and want to get away from the feeling of an apartment lifestyle. Townhomes seem to be more attractive now because of price, low maintenance, amenities — most of them are new and updated.”
Egbert Perry will help fix mortgage giant Fannie Mae
Atlanta-based urban developer Egbert Perry has joined the board of troubled mortgage giant Fannie Mae, whose near collapse four months ago threatened to sink America’s housing market.
Little house on the infill
Chad Ludeman is building green homes that are affordable, and they even come with a blog and a happy hour.
Housing slump doesn?t scare Realtors? prez
Jim Alexander takes the reins of the Atlanta Board of Realtors (ABR) as the housing market is in the midst of a historic downturn and the group’s membership is in steep decline.
Green condos are still attracting buyers at listing price
When Kelly Hough received her energy bill last summer, she thought the electric company had made a mistake.
Jacksonville real estate is in for a rough 2009
Last year was rough for the commercial and residential real estate market, and 2009 isn’t expected to get much better.
There?s plenty of supply, but buyers aren?t getting loans
One way to look at the future of residential real estate is in terms of the classic supply and demand dynamic, except that those two factors are unlike anything industry veterans have ever seen.
Home sales offer 2009 litmus test
Entering 2009, housing is perhaps the most significant sign on the road to New Mexico’s recovery. If housing continues to soften, New Mexico’s recession is likely to be bumpy and prolonged.
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5) Am I prepared to offer financing options to the buyer? 6) Will I be dealing with only pre-qualified buyers? 7) Am I prepared to answer questions about financing? 8) Do I fully understand the disclosure process and legal ramifications for my state? 9) Do I have the skill-set to successfully negotiate the handling of legal contracts, agreements, and any disputes with buyers before or after the offer is presented? 10) Am I familiar with competent professionals that will be involved in the transaction such as title, home inspectors, appraisers, escrow company and their fees? 11) Am I able to project and account for all the hidden costs, time factored in, marketing costs, and fees paid?

The above items are a few of the factors that the home seller should consider before selling his home on his own. Also, one important item to keep in mind is that very much like the title of Harvey Mackay’s famous book, “Swim With The Sharks”, real estate is very competitive and the buyer is just as equally motivated to get the lowest sales price, with the most concessions as the seller is to get the highest sales price the market will bear.

Most importantly, the facts are, sellers make more money when they use a real estate professional. According to the National Realtor’s Association survey, “Homes sold with the assistance of a real estate professional in 2005 sold on average for 16 percent more than FSBO sales.” As in many other industries, realtors vary in experience and skill level. Real estate is as populated with mediocre realtors as well as with excellent ones. However, hiring a skilled, full-time professional realtor, who is in the top twenty percent of his industry, to handle your sales transaction will be worth every penny of his or her’s broker fee.

Nef Cortez has been a licensed real estate broker and has held various positions in the real estate industry for over 25+ years. Visit his website at Diamond Bar Homesfor information on foreclosures.
for more information visit http://www.nefcortez.com


About the author:

Nef Cortez has been a licensed real estate broker and has held various positions in the real estate industry for over 25+ years. Visit his website at Chino Hills Real Estate for information on foreclosures.