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Home For Sale by owner - Save money
12 March 09 11:52 PM | Elena & Kirill Gorbounov(a) | 5 Comments   
Throw caution to the wayside - go it alone! You are smart enough and you know it all ... you saw what your friend down the street sold his/her house for last year and you need all the money you can get! Simply place an add in the Post or on Craigslist and the buyer will be there! You know you can get the highest price, market the property, schedule and show, screen the offers, and do all the legal paperwork. According to NAR's 2006 Profile of Home Buyers and Sellers: 1) "40% of FSBO's sold the home to someone they knew prior to the transaction". 2) "Homes sold with the help of a real estate professional in 2006 sold on average for 32 percent more than FSBO sales. The median FSBO selling price in 2006 was $187,200, compared with $247,000 for agent-assisted transactions." There must be a hidden secret as to why the vast majority of all Real Estate is sold by Real Estate Agents - they must be bringing value! PS Buyer has to consider many items to proceed with a FSBO without the assistance of a REALTOR ... inspections, paperwork, title transfer (clowds), fees, etc. Read More...
January Sales in Northern Virginia 2009 - Important to READ (DOM; Prices; Trends; Inventory; Sales)
14 February 09 08:29 AM | Elena & Kirill Gorbounov(a) | 0 Comments   
In January, 998 homes were sold in the area as opposed to January 2008 where the number of homes sold was 716. This means that sales went up by 39%. Also, the average Days On the Marketis 99 days in contrast to 123 days during the same period a year ago. In Fairfax County 790 homes were sold in January, which is an increase of 47% compared with a year ago, while in Arlington sales went up by 26%. At the same time the median sale price dipped nearly 22 percent to $309,449 last month. ~source: Washington Business Journal The inventory of homes for sale in January of 2008 was 79,060 while for January of this year it is 65,992 properties --- a reduction of 16.5% in inventory! Months Supply of Inventory for Jan 2008 was 8.6 while for Jan of this year it is 7.8 months --- decline of 9.6% (less inventory). Pending Sales last year same month 6,902 while this year 8,028 --- 16.3% increase. Average Sales Price went down by 18.2% fyi: percentage of original list price is in the 90's meaning that if the property is for 100K on average buyers get it for 90K sales price! Read More...