Rocky Mount, NC

Many homeowners believe that to maximize their profit on a home sale they should sell it themselves. At first glance, they feel selling a home is simple and why should they pay a broker fees for something they could do themselves? In fact, close to 9% of all the homes sold last year were sold for sale by owner (FSBO).

However, close to half of the FSBO's said that they would hire a professional next time they sold. Thirty percent said they were unhappy with the results they achieved by choosing FSBO. Why?

Many FSBO's told us that the time, paperwork and everyday responsibilities involved were not worth the amount of money they saved in commissions. For others, the financial savings were even more disappointing. By the time they figured the amount of fees paid to outside consultants, inspectors, appraisers, title lawyers, escrow and loan officers, marketing, advertising... they would have been better off having paid the broker's fee which would have included many of these charges up front.

Before you decide to sell FSBO, consider these questions and weigh the answers of assuming the responsibility versus employing a professional. A little time spent investigating up front will pay off tenfold in the end.

Do I have the time, energy, know-how, and ability to devote a full forced effort to sell my home?

One of the keys to selling your home efficiently and profitably is complete accessibility. Many homes have sat on the market much longer than necessary because the owner was unwilling or unavailable to show the property. Realize that a certain amount of hours each day is necessary to sell your home.

Am I prepared to deal with an onslaught of buyers who perceive FSBO's as targets for low balling?

One of the challenges of selling a home is screening unqualified prospects and dealing with lowballers. It often goes unnoticed... how much time, effort and expertise it requires to spot these people quickly. Settling for a lowball bid is usually worse than paying broker commissions.

Am I offering financing options to the buyer? Am I prepared to answer questions about financing?

One of the keys to selling, whether it's a home, a car... anything, is to have all the necessary information the prospective buyer needs and to offer them options. Think about the last time you purchased something of value, did you make a decision before you had all your ducks in a row? By offering financing options you give the home buyer the ability to work on their terms and open up the possibilities of selling your home quickly and more profitably. A professional real estate agent will have a complete team, from lenders to title reps for you to utilize...they'll be at your disposal.

Do I fully understand the legal ramifications and necessary steps required in selling a home?

Many home sales have been lost due to incomplete paperwork, lack of inspections or not meeting your states disclosure laws. Are you completely informed of all the steps necessary to sell real estate? If not, a professional would be a wise choice.

Do I have the capability of handling the legal contracts, agreements and any disputes with buyers before or after the offer is presented?

Ask yourself if you are well versed in legalese and if you are prepared to handle disputes with buyers. To avoid any disputes it is wise to put all negotiations and agreements in writing. Many home sales have been lost due to misinterpretation of what was negotiated.

Have I contacted the necessary professionals....title, inspector (home and pest), attorney, and escrow company?

Are you familiar with top inspectors and escrow companies? Don't randomly select inspectors, attorneys, and title reps. Like any profession there are inadequate individuals who will slow, delay and possibly even cost you the transaction. For more information visit www.M3FSBO.com

David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687

Copyright © 2008 By David C Recker, NC Real Estate Web Blog. All Rights Reserved.. *For Sale By Owner - Things To Consider*

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Situation
I received a call from a couple wanting to sell their home in Brassfield Estates. Both Jim and Maria were retired and they wanted to move to the Ashville, North Carolina area. The couple had learned about me from my website, www.NCRealEstateWeb.com, and gave me a call.

During our meeting we discussed how I work, why I do the things I do, and exactly what I was going to do to help them get their home sold. At the end of the meeting they informed me that a friend had recommended another Realtor to them. They would contact me with their decision on who they would hire after meeting with the other Realtor.

A few days later they called me and wanted me to list their house.

Critical Issue
Jim and Maria had no pressing issue making them relocate other than they just wanted to move. They had visited the Ashville area many times wanted to make it their new home.

Capabilities Needed
When we met they were looking for a Realtor that was honest, would communicate with them on a regular basis, and work hard to sell their house. They were prepared for their home to remain on the market 6 months to a year based on what they had seen happening in the neighborhood.

What I provided
I provided accurate and justifiable pricing, simple suggestions to help the home show better, and a custom marketing plan to maximize the exposure of their home within the appropriate buyer group.

Result
The sellers received and accepted an offer on their home in 48 days.

They were surprised and very pleased that they went "Under Contract" so quickly. In fact, it took a few days after receiving the "Offer to Purchase" to accept the offer because the wife was traveling in Europe at the time. They did not expect to receive an offer so quickly.

Jim and Maria had moved many times during their lifetime. So, when the customer service survey was returned I took great pride in the fact that they stated that it was the "Best experience with a Realtor ever".

This is how I grow my business, one satisfied client at a time.

David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687

Copyright © 2008 By David C Recker, NC Real Estate Web Blog. All Rights Reserved.. *Client Story - Jim & Maria Wanted to Retire to Ashville*

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RealtyTrac and trulia just released the results of a new joint study. This study shows that fewer buyers are willing to consider purchasing a foreclosed property than they were seven months ago.

Seven months ago, 54 percent of adults surveyed said they would consider purchasing a foreclosed home. In November, only 47 percent of adults say they'd buy a foreclosure.

The main issue is perceived risk. With 80 percent of those surveyed citing hidden repair costs, a tricky buying process, and the possibility that the neighborhood will lose more value and drag the property down with it.

To compensate for these risks, 75 percent say they expect at least a 25 percent discount and 30 percent say they would only buy if there is a 50 percent discount compared with a comparable home that isn't in foreclosure.

Other findings:

* 56 percent of single/never married adults were at least somewhat likely to consider purchasing a foreclosed home, down from 60 percent in April.
* 43 percent of married adults were at least somewhat likely to consider purchasing a foreclosed home, down from 50 percent in April.
* 42 percent of divorced/separated/widowed adults were at least somewhat likely to consider purchasing a foreclosed home, down from 50 percent from April.

David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687

Copyright © 2008 By David C Recker, NC Real Estate Web Blog. All Rights Reserved.. *Some Are Less Inclined To Buy A Foreclosure*

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2009 will be a year of more challenges and opportunities. Prepare yourself with these predictions from HGTV's FrontDoor.com Web site.

• Sellers will continue to face falling home values in the new year because they'll be competing with banks and builders who are slashing prices to sell off the still-huge inventory of foreclosures and new homes.

• The Obama administration will act on its plan to crack down on abusive lending practices.

• Mortgage holders in danger of losing their homes will receive more assistance from a variety of programs since the Senate's Joint Economic Committee has predicted two million foreclosures in 2009.

• Banks' restructuring should bring increasing calm, making loan modifications and short sales easier to obtain. Eventually this will lead to a decrease in the number of bank-owned properties on the market.

• Mortgage applications will continue to receive a comprehensive review, requiring borrowers to provide extensive income and debt documentation. Those with the best credit will get the best rates.

• The foreclosure crisis has created wiser consumers, with a deeper understanding of real estate, mortgages, and credit enabling better decision-making going forward.

• Green is good with increasing numbers of buyers opting for smaller homes that are within walking distance of school and work.

• Buyers and sellers will be more and more tech savvy, relying on tools like video, webcasts, and mobile search. Consumers and practitioners will benefit from being ahead of the curve.

• Prices will be low as will interest rates, creating great buying opportunities, and likely, inspiring reluctant buyers to make their move.

• The recession will end and buyers will regain confidence in the market.

David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687

Copyright © 2008 By David C Recker, NC Real Estate Web Blog. All Rights Reserved.. *10 Real Estate Predictions For 2009*

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If you own real estate in the Greater Rocky Mount Area of North Carolina that you're thinking of selling, I would be happy to provide you with a FREE Market Analysis. I can help you decide if now is the best time to sell your home. Selling your home without the right agent can be time consuming, stressful, and costly. Contact me to learn how my strategic marketing plan and my expertise will successfully price, market and sell your home in a way the is convenient, simple and affordable to you!

Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction.

David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687

Copyright © 2008 By David C Recker, NC Real Estate Web Blog. All Rights Reserved.. *Thinking of Selling Your Home?*

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