You would think that the CEO of ForSaleByOwner.com would not hire an agent to sell his home. That was the exact approach by Colby Sambrotto listing his prestigeous home at just under $2million as a FSBO for six months. Ultimately the home didn't sell so he contacted a realtor. The new MLS listing was much higher than his original offer price and his home did sell.....at $2.15 million.
Numerous studies have shown that For Sale By Owner (FSBO's) when sold earn far less on average then their true value.
"In fact, nearly a quarter of FSBOs surveyed said that “Getting the right price” was the hardest thing for them to do, even ahead of “having enough time to devote to all aspects of the sale” (23%) and “preparing/fixing up the home for sale” (18%)."
Mail Online from the UK.
Monday, October 17, 2011
1 In 3 Adults Live With Relatives
Has your college son or daughter moved back in? If you have a highschool son or daughter going to college? Well, he might find his way back into your home.
"Nearly one in three or 30% of respondents to the Hanley Wood housing survey taken by more than 3,000 U.S. homeowners and renters said they had doubled up their living arrangements with relatives. The study provides insight on the changing dynamics in the U.S. housing market and the broader economy as the nation copes with the worst economic downturn since at least the Great Depression. "
For more click here.
Friday, October 14, 2011
Just launched a new Facebook page devoted to Sugar Land only!
Head over and check it out! We will be adding periodic information related to Sugar Land only. While we cover large areas Sugar Land news and golfing events warrants its own facebook page. This will help allow our customers to find information related solely to this area of Houston.
Click here to visit the new page!
Click here to visit the new page!
Wednesday, October 12, 2011
Buy my house and get a free Botox treatment!
Home owners, and agents for their open houses, are coming up with all types of ideas to attract attention and hopefully offers. One particular approach by an agent offered Botox treatments or Thai massages. Other approaches are catered affairs. For more examples and details on this "different" idea go here.
Houston Home Price 12-Month Trend
The single famiily average home price in Houston achieved the second highest level for an August. At $217,047, the average price of single-family homes rose 0.7 percent compared to last August. The highest August level historically was $222,638 in 2008.
At $159,000, the median sales price for single-family homes was statistically flat versus August 2010 and down fractionally from June and July’s $160,000 level, which was the highest median price of 2011 and the highest level in two years. The national single-family median price reported by NAR is $174,000, illustrating the continued higher value and lower cost of living available to consumers in Houston. The cause behind a flat median price is an increase in lower cost housing specifically housing below $80,000. There was an increase in sales of just over 45% for that category.
While the median is still flat the data clearly indicates that the overall price of single family homes in Houston is on the rise albeit at a snails pace.
At $159,000, the median sales price for single-family homes was statistically flat versus August 2010 and down fractionally from June and July’s $160,000 level, which was the highest median price of 2011 and the highest level in two years. The national single-family median price reported by NAR is $174,000, illustrating the continued higher value and lower cost of living available to consumers in Houston. The cause behind a flat median price is an increase in lower cost housing specifically housing below $80,000. There was an increase in sales of just over 45% for that category.
While the median is still flat the data clearly indicates that the overall price of single family homes in Houston is on the rise albeit at a snails pace.
Friday, October 7, 2011
Project Joy and Hope Annual Golf Classic Begins Next Week!
The Annual golf event benefiting Project Joy and Hope begins October 14th. Project Joy and Hope helps the quality of life for children and familes. Their mission is to promote the physical and psychological well-being of children with life-limiting conditions and to help their families through community awareness, education, program development and resource development.
The vent is held at Kingwood Country Club on Thursday October 13th with registration beginning at 10:30am. Lunch will be served prior to a shotgun start at noon. Dinner along with a silent auction will also occur following play. For more details on either the event or Project Joy and Hope head over to their website at http://www.joyandhope.org/.
The vent is held at Kingwood Country Club on Thursday October 13th with registration beginning at 10:30am. Lunch will be served prior to a shotgun start at noon. Dinner along with a silent auction will also occur following play. For more details on either the event or Project Joy and Hope head over to their website at http://www.joyandhope.org/.
Mortgage Rates Hit Lowest Level in History.
For the first time ever, 30-year fixed-rate mortgages fell below 4 percent, Freddie Mac reported in its weekly mortgage market survey.
In the last month mortgage rates have continued to set new weekly record lows, but the 30-year mortgages’ latest drop below 4 percent may be an important threshold for potential buyers. The 30-year mortgage is the most popular financing option of buyers. >> More
15-Year fixed mortgages are also at historic lows now just over 3.25%.
In the last month mortgage rates have continued to set new weekly record lows, but the 30-year mortgages’ latest drop below 4 percent may be an important threshold for potential buyers. The 30-year mortgage is the most popular financing option of buyers. >> More
15-Year fixed mortgages are also at historic lows now just over 3.25%.
Thursday, October 6, 2011
New bill in Congress introduced that allows tax-free use of retirement funds for mortgage payments.
Two Republicans introduced what is termed the Home Act bill in congress on Wednesday. Individuals could not pull up to half of their retirement account not to exceed $50,000 provided the funds are directly used to pay off their current mortgage within 120 days of withdrawel. The normal 10% early withdrawel penalty would be waived. Multiple withdrawels can be made within their lifetime until the individual reaches the $50,000 cap.
"This bill will help Americans who risk foreclosure use their own resources to make their mortgage payment on time without being penalized by the federal government," Isakson said. "I firmly believe that economic recovery in this country will not occur until the housing market bounces back." >> More.
This bill is extremely interesting. On one side it would allow home owners in dire need to utilize their retirement funds. However, by removing money it would probably force individuals to work further into retirement to cover the lost funds and interest earned on that money.
"This bill will help Americans who risk foreclosure use their own resources to make their mortgage payment on time without being penalized by the federal government," Isakson said. "I firmly believe that economic recovery in this country will not occur until the housing market bounces back." >> More.
This bill is extremely interesting. On one side it would allow home owners in dire need to utilize their retirement funds. However, by removing money it would probably force individuals to work further into retirement to cover the lost funds and interest earned on that money.
Tuesday, October 4, 2011
CoreLogic Launching New Borrower Credit Report
While credit reports are designed to give lenders a look at an individuals credit history at times the reports don't tell the whole story. Thus CoreLogic is now beginning to create a new credit report that will supplement existing reports. The new reports will contain information such as...
- Properties owned (with and without debt obligations)
- Mortgage obligations with companies that may not report to traditional credit reporting agencies
- Property legal filings, such as notices of default
- Property tax amounts and payment status
- Estimated market values on all U.S. properties owned
- Rental applications and evictions
- Inquiries and charge-offs from pay-day and online lenders
- Consumer-specific bankruptcies, liens, judgments and child support obligations
Monday, October 3, 2011
Taylor Swift's Home In Nashville Was Up For Sale
She bought the home just over one year ago and believe it or not the house sold quickly for 1.4 million or $50,000 above her original purchase price. If you are interested in viewing the pictures click here.
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