FSBO BLOG

Freddie Mac reported this week that rate have decreased for a third straight week, and are at their lowest since July 2005.  They also stated that for the first time in seven years that the average rate on the 15-year FRM is lower than the average rate on 1-year adjustable-rate mortgages (ARMs).  So, what does this all mean?It means it’s time for buyer to get out there and start buying.  If you missed out last time rates were this low, you know you do not want to miss out again.  They won’t stay like this forever.  And with more houses on the market for sale than ever before, buyers have the advantage, and should start making offers right away. 

This may also be a good time for those of you that have high rates from a year or two ago to consider a refinance.  I know I am going to consider it, how about you?

I am hoping someone out there who is an expert in the field could break down the benefits / disadvantages to the new Microsoft Vista product.  Until today I had no personal experience with it, but was well aware that many of my machines, and or software (i.e. UPS Worldship software) were not compatible with Vista.  We have had to hang on to a few old machines to run certain programs.

I am just curious if anyone out there can enlighten the rest of us on Vista, and let us know if we should abandon it immediately, or stick with it.  How long will it take everyone to catch up with compatible products (i.e. Quicken Quick Books, did not have a Vista compatible version last time I checked) I do apologize as the majority of my knowledge on the subject comes from the TV Commercial series or PC vs. Mac, obviously with Mac winning the game.

I am personally getting ready to replace my old Dell laptop with a Mac.  I have toyed with them a bit in stores, and on a friend’s laptop, and think I am ready for the change.�

 Bank of America Corp.’s plan to acquire troubled mortgage lender Countrywide Financial Corp. Countrywide has been rumored to be in trouble now for sometime, and was facing a possible bankruptcy.  In a press release, Bank of America said it “will benefit from Countrywide’s broader mortgage capabilities, including its extensive retail, wholesale and correspondent distribution networks.” That suggests Charlotte, N.C.-based BofA intends to allow Countrywide to continue funding loans originated by mortgage brokers, and buying loans from other banks.I am curious to hear you thoughts on how you think this might impact our current market conditions.�

Aren’t we all!  Since the beginning of the modern day Realtor, contacting FSBO’s (fizz-bos) by phone has been common practice.  The purpose for their call is to pursuade you that you are unable to sell the home on your own, and will need to enlist in the services of a professional if you are serious about selling your home.  For many years, there was nothing you and FSBO sellers a like could do about this.  Today’s blog will teach you,and encourage you to get your home and cell phone listed on the “National Do Not Call Registry”.  Sign up is easy, quick, and best of all FREE.  Once your phone number is listed; it is listed FOREVER.

Step 1:  Got to https://www.donotcall.gov/ and click on “Register Now”

Step 2:  Enter Your Phone Numbers and Email in the spaces provided, and click “Submit”.  Click “Register” on the next page to confirm all info is correct.

Step 3:  Check your email to complete your registration.  (Note:  Important: If you do not click on the link in the email within 72 hours, your phone number will not be registered.  https://www.donotcall.gov/register/reg.aspx )

Your phone number will take approximately 31 days to register.  Any responsible Agent will have an account with the Do Not Call Registry, and will check to see that your phone number is NOT registered before calling to solicit your business.

Once registered, you can Click Here to File a Complaint.

For More information regarding the Do Not Call Registry, and Penalties, please visit the FTC’s page at http://www.ftc.gov/donotcall.

“If you think It could be a scam….It probably is!”.  This was the headline on a sign that I saw today while in line at the bank waiting to make a deposit.  It was some promotional campaign to push their fraud protection services.  It gave short examples and tips in smaller letters, and I was only able to read a few of them. “Don’t do business with anyone you do not know”.  “Do not accept checks from people you have never met or spoken to directly”.  I could not agree more with any of the above three statements, and only wish I had more time and a better view to read the rest of their tips.  I figured I would revisit the topic today since my original SCAM Blog went over so well.  Just remember that Fake Check scammers are targeting many online industries right now, with Real Estate being one of the more popular targets.  FSBO.com is currently wrapping up its new system that will help to prevent these types of scams from ever reaching your inbox, but until that goes live, I want to remind everyone that “If you think it could be a scam, it probably is”.  Just like the old saying, “If something is too good to be true, it probably is”.  Please see our previous Blog regarding Scams for more detailed info on what to look for: Scams on the Internet: How to Spot Them and What FSBO.com is Doing About Them

This afternoon I had the pleasure of attending the AMA Atlanta’s  (American Marketing Association) first Marketing Technology event of the New Year. Sponsored by Aquent, with Maureen Schumacher, Southeast regional director for Google, and Brian Cusack, East Coast team manager for YouTube discussing marketing trends for 2008, and several successful Video Marketing Campaigns.  Some of the statistics they shared were astounding, and I thought I should share them with you today.  According to the latest statistics, the average American spends the same amount of time online, as they do in front of the TV.  This has never been the case before.  72% of US Internet users are logging on for the specific reason of watching videos, with 79% percent of them viewing from a high speed internet connection.  You Tube currently has over 1 Billion Video Viewings per day! 

What does this mean for FSBO.com, and for those selling by owner you ask?  Simple.  Many FSBO sites allow the seller to upload a video of their home to help showcase their home.  FSBO.com does not charge any additional fees for this service unlike most others in our industry.  You may add a home video to any package purchased on FSBO.com.  Soon, you will be able to upload unlimited photos to your FSBO.com listing, as well as “share” your FSBO video with others via an embedded link that we will provide for you.  If you have not already, I strongly suggest getting out there, shooting a video tour of your home, and placing it on your current or future real estate listing online.  I would also suggest uploading it to You Tube and other video sites alike. 

The viewers are out there.  The question is; is your video out there too?

Below are a few of the most common taxes deductions for homeowners.  Make sure your accountant is aware of everything you qualify for, and is getting you the most back on your tax return. 

1.      Mortgage Interest:  This would have to be the most well know tax break for homeowners.  In most cases, you will be able to deduct all of your home mortgage interest. Whether it is all deductible depends on the date you took out the mortgage, the amount of the mortgage, and your use of its proceeds (irs.gov).

2.      Property Taxes:     Property Taxes are fully deductible.  Make sure you keep accurate records for the amount you pay in property taxes.

3.      Home based Business Deductions:  You are able to deduct a portion of the expenses for working from home, or running a home based business.  Two examples of expenses would be your Internet bill, or your Home/Cell Phone Bill.

4.      Home Equity/Improvement Loan Interest:  The interest you pay on a home equity loan may be deductible no matter what you use the money for. The deduction can save you money on your taxes.

These are just a few deductions available to you as a homeowner.  Make sure you have a good accountant, and ask them if there are any other deductions you can possibly take advantage of such as deducting Points charged on your loan, Selling Costs and Capital Improvements, Moving Costs, and Energy tax Credits. 

Please let us know what else you have been able to save on come tax time.

We often get asked at FSBO.com if represent the seller at closing and take care of the paperwork.  Because we are simply a marketing service, and not a licensed brokerage, we are unable to do either.  We do however offer suggestions and links for handling the paperwork during the sale of your home.

First, we offer a section for you to purchase generic real estate contracts and disclosures online (Real Estate Contracts).  You can download these forms directly to your computer in an instant, and have them readily available any time a buyer is ready to make an offer.  Similar forms can be found at your local office supply store at a similar price.

Second, you can contact a local Real Estate Attorney.  You can either hire them to review your already existing, or you can hire them to create it from scratch with the terms you and your buyer have agreed on.  Obviously the second option here would be more time consuming for the attorney, and in-turn cost you a bit extra.

Other than that, there are a few closing services available out there, but none that I am familiar with off of the top of my head though. I suggest you search through our Professional Services database, on Google, or in your local phone directory. 

If you have recently handled the paper work for your own FSBO transaction, please comment on your experiences and tell us how it went.

Welcome back, and Happy New year.  I hope your holidays went well, and you are well rested and ready to begin the year.

FSBO.com would like to announce that it has lowered the price for it’s Flat Fee MLS Package.  The new price is $399.95.  The new price to upgrade your current listing to the Flat Fee MLS package is now only $295.00.  I have explained briefly what the MLS package entails below.

For a Flat Fee of $399.95 your property will be listed in the actual MLS by an affiliate Realtor.  This will be the exact same MLS that any other Full Service Agent would list you in.  You will pay the Flat Fee upfront, and only be responsible paying the buyer’s agent commission at closing.  This will save you approximately 50% in real estate commissions.  85% of the time it is a different agent that brings the buyer, which means there is never a reason to pay a commission to the listing agent.

If you are a current FSBO.com customer, you may log in at any time to upgrade your listing to the MLS for $295.00.�