FSBO is tougher than you think.

After failing to sell his NYC apartment on his own as a For Sale By Owner (FSBO), Sambrotto hired a broker and paid a 6% commission in order to get the job done. His personal experience helps refute some of the myths Sambrotto has been espousing for over a decade. Let’s look at two of those myths:

Myth #1 – You Will Pocket More Money Selling on Your Own

 Most FSBO sites say you can save the commission by selling on your own. What happened in Sambrotto’s sale?

From the WSJ article:

“The broker, Jesse Buckler, said he told Mr. Sambrotto the apartment in the Lion’s Head building on West 19th Street near Sixth Avenue was priced too low and wasn’t drawing the right buyers.

By May, it went into contract, he said, after attracting multiple offers. It closed in the last few days for $150,000 more than the original asking price.”

Myth #2 – The Internet Alone Can Sell Your Home

Many have said that, with the introduction of home search on the internet, hiring an agent is no longer a necessity. What happened to the FSBO guru when he attempted to only depend on the internet?

From the WSJ article:

“Looking to move his family to the suburbs, [Mr. Sambrotto] said he carefully staged his apartment for sale himself, and put it on the market. But after using a mix of websites to publicize his apartment, he said he had only ‘middling success’ and switched to a broker because many buyers were so reliant on brokers.”

Bottom Line

Call us right away at 403-852-6583 to book your appointment and get the answers you are looking for.

Enhancing curb appeal isn't as cumbersome - or costly - as it may sound. It's all about timely exterior prep to boost a property's value.

Here are some simple, low-cost ideas almost any everyday homeowner could do.

1) Wash the home's front, sides and windows: Rent a pressure washer and do a thorough clean. When a potential homebuyer looks at it, if it's dirty, they think, it's all rundown. Washing dirty windows is also an easy fix and just like the eavestroughs,

2) Paint exterior trim: You want people to notice a clean and proper exterior. So paint the window frames and battens if it's flaking off.

3) Pay attention to your front door: The front door is so obvious yet easily forgettable.  Fix peeling paint or clean a dirty door. Replace broken screens. Simple stuff but very powerful.

4) Exterior lighting:  Upgrading an older light fixture to something more modern or classic provides an instant facelift.

5) Fix loose railings: Tighten or fix any loose railings. This contributes to the home's overall appearance.

6) Clean out the eavestroughs: Fix anything as needed. Replace parts that are damaged. And reattach areas that are loose. Also, clean our dirt, leaves etc.

7) Repair roof shingles: If your roof still has a lifespan, perhaps you may not need to replace it all.  A few shabby shingles can be recovered at low cost.

Calgary HOUSING MARKET ON THE ROAD TO RECOVERy

Market improvements driven by clients looking for value   

Calgary, August 2, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), residential sales continue to trend towards recovery.  After the first seven months of the year, single family and condominium sales totaled 11,798, a 5 per cent increase over the previous year.  While the improvements signal market recovery, overall sales levels remain 17 per cent below the 10-year average for this period.

“The recent rise in average days on market, especially in the single family sector, shows that while properly priced homes are selling quickly, over-priced listings remain on the market for a longer period of time. Improving market conditions may have signaled some sellers to be overly optimistic regarding pricing, resulting in a disconnect between seller and buyer expectations,” says Sano Stante, president of CREB®. 

Single family sales for July 2011 were 1,153, with a total of 8,380 sales for the first seven months of 2011, an 8 per cent increase over the same period last year.  Meanwhile, year-to-date listings continue to remain lower than last year, resulting in inventories trending lower than last year as well.  Overall months of supply remain around four months within a balanced range.

“A good selection of housing inventory, combined with positive economic fundamentals, is encouraging buyers into the market,” says Stante.  “Buyers are still quite value conscious, and in the current market are able to take advantage of the range of selection in a stable price environment.”

Condominium sales continued to bounce back this month.  July 2011 condominium sales total 453, a 14 per cent rise over last year, while year-to-date sales remain 3 per cent lower than the same period in 2010. 

“Excess supply and lower demand have negatively impacted the condominium market over the past year,” says Stante. “Nevertheless, the recent pickup in sales, combined with fewernew listings, has gradually reduced inventory levels of condominiums, lowering the month’s supply of inventory from over six months last year to just above four months in July 2011.” 

The average price of single family homes in July 2011 was $455,849 and the median price $409,000, similar to levels recorded in July of last year.  Condominium prices also remained at levels similar to the previous year.