FSBO BLOG

I am excited to launch my first of many videos documenting my experiences in selling my own property For Sale By Owner through FSBO.com.  I plan to share my experiences with you as I go through the exact same things you are going through right now:  fixing it up, marketing it, showing it, and eventually completing a successful FSBO sale. 

Once the home is ready to be put on the market, I will purchase a package from FSBO.com (at full price), and post a FSBO.com Yard Sign and Brochures in the front yard.  This is a REAL house that I have owned since 2003, and nothing in this video series has been staged.  (I have left the property and contact details off of these videos as to not give myself an unfair advantage over my customers)

I encourage you to check back regularly to view my progress, as well as to make comments.  Now, as you have seen in the first video, I am having a little contest for those who have viewed my video. (Hint: the answer is less than “100 takes”)

Contest Rules:  Be the first person (current Customer or Potential customer) to accurately guess the number of takes it took to film the intro portion (Mike Talking), and you will win the following prize.  You must leave your guess as a comment on this blog. 

CURRENT FSBO.COM CUSTOMERS:  FREE Virtual Tour (valued at $109.00)

*If winner already has a Virtual tour a prize of equal value will be granted.

NON-FSBO.COM CUSTOMERS:  FREE 9-month Gold Package Listing on FSBO.com ($99.95 value)

*Winner must create listing before Dec 31, 2008 to receive free listing

Thank you very much for watching, and wish me luck!

*HINT Update 03/25/2008:  One of the guesses so far is only one number off.  Thanks, Mike

FSBO.com is now on Facebook.  Check out the FSBO.com page on Facebook and upload your property photos & videos.  Make sure to include your FSBO.com ID # so we can link to your property listing.  This should help you get more exposure for your property!  Also, make sure to add yourself as a FAN to get the latest updates & news from FSBO.com.  Click on the graphic or link below to see our page…

http://www.facebook.com/pages/FSBOcom/11521076407?ref=s

Please note - Facebook is a registered trademark of Facebook, Inc.

 Money Magazine is working on an article for their May issue and are looking to profile “real people” who are utilizing creative & different techniques to sell their home in today’s real estate market.  For example, videos, blogs, lease/purchase options, home swaps, etc.  The more creative the better!

If you would like to be considered for this article, please leave a comment with your name, FSBO.com ID number and a description of your creative home selling techniques.  We will then contact you with more information.

Yesterday, FHA, Fannie Mae and Freddie Mac all published new loan limits that will help an estimated 250,000 more Americans to buy homes this year, or refinance their current loan in order to keep their home.  The increase was made mandatory by the Economic Stimulus Act that was passed by President Bush last month.  This increase will provide liquidity and stability housing markets nationwide.The Economic Stimulus Act of 2008 permits FHA to insure loans on amounts up to 125 percent of the area median house price, when that amount is between the national minimum ($271,050) and maximum ($729,750).

There are plans to return the FHA loan maximum back to $362,790 baring any additional requirements from the government.

(Source:  http://www.hud.gov/news/release.cfm?content=pr08-030.cfm)

 For a limited time only, FSBO.com will include a FREE Directional Arrow with every new Gold Package purchased.  Supplies are limited, and will be sent out on a first come, first serve basis while supplies last.  This information is posted on the “Advertise Property” section of FSBO.com, but I just wanted inform you again of this special promotion. 

The directional arrow will automatically be included in the UPS package we send to you.  Nothing is required on your end once you purchase the Gold Package for $99.95 from FSBO.com.  This package also includes a nine month listing on FSBO.com, 1 Steel Frame yard Sign, 50 Professional/ color brochures, and a brochure holder.

This is our recommended package for anyone just starting the selling process, and does not have any marketing materials as of yet.  Additional Marketing Materials can be found in the “FSBO Store“.

HGTV (Home & Garden Television) will soon be profiling the Metro Atlanta market and Atlanta homeowners on its television program, National Open House. National Open House is a real estate show which compares different real estate markets around the country to give viewers a good idea of how far their money can go between markets.

They will be shooting in Metro Atlanta March 5th thru March 9th. They are looking to find homeowners who own properties valued within the following price points: $250K ($230K - $270K), $300K ($275K - $325K), $500K ($475K - $525K), $600K ($575K - $625K), $750K ($725K - $775K), $800K ($775K - $825K), and $1 Million ($900K - $1.15 Million). Homes valued at more than $1.15 Million are not eligible.

This is an opportunity for enthusiastic FSBO.com homeowners to showcase their property and talk about why they love Atlanta!

Interested Homeowners Must:
*Have furnished homes
*Homes must be owner-occupied
*Fit one of the above price-points
*Be available for 4 hours on one of the days they will be in town filming
*Be willing to talk about the value of their home and why they chose to buy in the Atlanta market

Please note: HGTV cannot guarantee when the episodes will air - if the home is currently for sale, it may be sold before the episode premieres

If interested, please leave a comment with your FSBO.com ID #, and we will send you instructions for getting your home included on this television program.

NOTE:  These are the types of opportunities we will be seeking out for our customers all year long, and into the future.  Please check back on the blog regularly for great opportunities such as this.

Here are the numbers from FSBO.com’s most recent survey to our past seller’s.

42% SOLD their property while listed on FSBO.com

Average Days on Market was 93

Properties sold for 96% of list price

Average amount saved on real estate commission was $10,233

Here is the breakdown by region (all numbers are averages)…

DOM = Days on Market

I just wanted to share a testimonial we received recently from a former FSBO.com seller.  They were able to save a total of $18,000  by selling without the help of a real estate agent. 

Testimonial…

Awesome experience. The closing contract worksheet was well worth the $30 cost … it saved $18,000 of our $80,000 profit.

List Price $330,000

Sale Price $325,000

Days On Market - 12 Days

The forms they are referring to can be found in the “Real Estate  Contracts” section of FSBO.com.  I provided details on Real Estate Paperwork options for FSBOs in a previous blog.  Please click here to check it out.

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.