Thinking of buying or selling For Sale By Owner? FSBO
We need to talk.
Buying? O.K. I understand...the seller doesn't have an agent I can save some money. If they are not paying a commission...I can buy for a price that does not include commissions. Maybe so BUT I doubt it. Is the seller offering a fair price? What is normal for the market? Are sellers paying the buyer's closing costs? What was the last sold price for the neighborhood? What about inspections and negotiations? In a buyers market you the buyer get more than just a price discount.
Selling? Again I understand...If you sell without an agent you save money..and then theoretically you would net more money. First things first..how did you determine your sales price? Are you selling for top market price or leaving money on the table? In a declining market, the longer you stay on the market the more of your equity you loose and the more mortgage payments you make. Let me ask you a question the serious buyers have an agent...I mean the services of an agent are free to buyers. so the prospects coming in on an open house...or those folks that don't have an agent who call for an appointment..if they don't have an agent how serious are they? They take up your time...but do they have loan approval? Do they have a home to sell first? How long will that take?...Let's say the ideal buyer comes in..and you accept an offer... Who will follow up with the buyer, their lender and all the contingencies of the loan? Will this thing go to closing? How much money will it cost you to accept an offer that falls apart 2 days before closing?
You get what you pay for..It's always true. Buying/selling sounds simple..and it is in general..but this is a HUGE multi-faceted transaction with hundreds of parts and points of negotiation. A professional will earn their money and save you some!
Norm Odeneal
703-587-0945
Arlington VA, Arlington, Falls church, buyers, Sellers, FSBO, Real Estate, Keller Williams Arlington
You mentioned advice on the market.
and in 22202 the avg sold price is actually down 2.5% compared to last year
in 07 vs 06 sold prices where down 26.5%
in 06 vs 05 sold prices where up 47 %
In 22201 Clarendon 22201 the avg sold price is up 7% compared to last year
in 07 vs 06 sold price was down 24%
in 06 vs 05 sold price was up 15.6%
In my opinion the shift has come and gone and now is the time to buy.
Because,
Our economy is good
Arlington has the lowest unemployment rate in the State
60,000 jobs are coming to our area in the next few years.
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