Joe Arnott at Arnott & Associates

5 Reasons Why You Should Not For Sale By Owner! In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their homes on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the clear majority of sellers. Here are the top five reasons:... 1. Exposure to Prospective Buyers: Recent studies have shown that 94% of buyers search online for a home. That is in comparison to only 16% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you? 2. Results Come from the Internet: Where did buyers find the homes they actually purchased? - 51% on the internet - 34% from a Real Estate Agent - 8% from a yard sign - 1% from newspapers 3. There Are Too Many People to Negotiate With: Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale by Owner: - The buyer who wants the best deal possible - The buyer’s agent who solely represents the best interest of the buyer - The buyer’s attorney (in some parts of the country) - The home inspection companies, which work for the buyer and will almost always find some problems with the house - The appraiser if there is a question of value 4. FSBOing Has Become More And More Difficult: The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years. 5. You Net More Money When Using an Agent: Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission. Studies have shown that the typical house sold by the homeowner sells for $185,000, while the typical house sold by an agent sells for $245,000. This doesn’t mean that an agent can get $60,000 more for your home, as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense. Bottom Line: Before you decide to take on the challenges of selling your house on your own, let’s get together and discuss the options available in your market today.

Why hiring a real estate agent is key! #realestate http://bit.ly/2reG02F

Do You Know How Much Equity You Have in Your Home? 78.8% of homeowners have significant equity (more than 20%) in their homes today! This is great news for homeowners! But, do they realize that their equity position has changed?... This means that many Americans with a mortgage have an opportunity to take advantage of today’s seller’s market. With a sizeable equity position, many homeowners could easily move into a housing situation that better meets their current needs (moving to a larger home or downsizing). Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae spoke out on this issue: High home prices have led many consumers to give us the first clear indication we’ve seen in the National Housing Survey’s seven-year history that they think it’s now a seller’s market. However, we continue to see a lack of housing supply as many potential sellers are unwilling or unable to put their homes on the market Bottom Line: If you are one of the many Americans who is unsure of how much equity you have built in your home, don’t let that be the reason you fail to move on to your dream home in 2017! Let’s get together to evaluate your situation! Call or message me for a Free Home Valuation I'm here to Help.. Direct (909) 534-3727