Whether for Huntsville condos or single-family homes, For Sale by Owner (FSBO) sales aren’t near as successful as those sold by real estate agents. In fact, by 2006, the average price for a FSBO home was at least $50,000 less than agent-run sales.
Why is that? Are real estate agents just naturally better at it? Although I’d love to say yes, the reality is that there are just some things FSBOs don’t know. Because they don’t know it, they make mistakes. Some of the most common are:
Incorrect pricing – The market can only bear so much. By pricing their Huntsville condos and homes too high, many FSBOs fail to sell. If your home isn’t selling, this may be the reason.
Not understanding everything involved – Selling a home, whatever the type, takes a lot of time, energy, ability, effort and know-how. For instance, accessibility is especially important, and a lot of FSBOs can’t be available to show the property when a buyer wants to see it.
Screening – You can waste a lot of time on unqualified buyers. You can also lose money by taking an offer that’s lower than it should be. Screening buyers can take a lot of time and effort, especially if you don’t have the experience to spot them. (more…)
If your Huntsville home for sale isn’t selling, you’re probably wondering if you’re missing something. Well, here’s a list of things you might not know that could make all the difference:
If the location of your Huntsville home for sale isn’t great, the price and terms are the only thing that will sell it. Make them outstanding!
Attractive, competitive terms may help you get a higher price. For instance, if you’re allowing the option of owner financing, and also allow a smaller down payment (say, $20,000 – $30,000), you may be able to sell your house for a higher overall amount.
Because of the current high competition, your home has to be in the best condition at a competitive price. Check out the competition, accept that yours might need work, and get to it.
You can’t set a limit for home improvement. If your home needs something done to beat the competition and you can do it, do it! You aren’t just spending money; you’re investing in the sale of your home. Although you may not get all your money back, you just might get a quick sale at full value.
Staging – you’ve heard of it; tons of agents are talking about it. If you want to get your house sold, either invest in staging services or do your homework andstage the home yourself. It’s all about presentation.
Remember that you are no longer the host/hostess of the house. You are a business person, and your business is getting that house sold. Don’t let your emotions get in the way of a solid business deal.
Putting up your Huntsville home for sale is a daunting prospect. If it’s been up for a while, it can be an exercise in frustration. However, keep the above points in mind, listen to the experts and put what you learn to work for you.
If you’d like to get your Huntsville home sold, I can help. Call me at 800-803-0053, 256-508-0211 or email me at mike@movetohuntsville.com for more information.
There were 1,393 Madison County AL foreclosure homes for sale with 166 new foreclosures in December 2009. 1 in every 827 housing units received a foreclosure filing in December. The average sales price of a Madison County AL home was $171,944 and the average foreclosure sales price was $155,378, a $24,018 savings, according to RealtyTrac.com.
Madison County AL Foreclosure Activity and Home Price Index
Madison County AL foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or repossession notice – each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.
Pristine log cabin situated on a sprawling 8.24 acres, just outside of town. Imagine waking up in this peaceful setting with mature trees, mountain tops and clean fresh country air. Enjoy your morning coffee and swing with your sweetie on the covered porches. The tiled entry welcomes you into the comfort of home. A dining area with tiled floor combines with the kitchen breakfast bar for great entertaining space. Everyone can gather together in this cozy cabin as the great room with beautiful views joins the dining and kitchen area. And a kitchen it is…boasting gorgeous custom cabinets, ample counter space, tiled floors and you can virtually see everything. No need to worry about footprints as the oversized laundry room with tiled floor will catch everything. The master suite features two walk-in closets, a tiled bathroom with dual vanities and double windows. The additional two bedrooms are both carpeted with ceiling fans and share a tiled bath. Got too much stuff? No worry. There is a metal storage building and a workshop for all the extras. Whether you’re inside looking out or outside looking in, this cutie has it all.
Now that the Home Buyer Credit Act has been extended and qualifying income levels have been raised, this is an ideal time to purchase a house. Generally advertised as a tax credit for first-time buyers, the new legislation actually benefits many current homeowners, also. Originally slated to end in November 2009, the credit deadline has been extended to April 30, 2010. If you have a binding, signed contract and settle on a home before June 30, 2010, you are also eligible.
First-time buyers are those who have not owned a home in the last three years. They are eligible for a credit of 10% of the purchase price up to $8000. Ownership of a vacation home or rental property not used as a primary residence does not disqualify a buyer as a first-timer. Repeat buyers, or those who have owned and lived in a principal residence for at least 5 consecutive years of the last 8, may qualify for a credit of up to $6500. Income levels have been increased to $125,000 for individuals and $225,000 for couples.
The current Huntsville market, with an abundance of inventory and moderate prices, is ideal for taking advantage of these tax credits. Take a look at how Huntsville real estate in 2009 compared to 2008.
Huntsville/Madison County Market Statistics
Huntsville and Madison County saw a decrease of 6% in sold listings when compared to 2008. The average sales price decreased by 4% to $191,946. The average price per square foot decreased by 2% when compared with 2008. And the average list price decreased by 4%, while homes were on the market an average of 12 days less than 2008.
Date
Sold Listings
Average List Price
Average Sale Price
Percent SP/LP
Average DOM
Average Price Sqft
2009
4,719
$196,799
$191,946
98.13%
79
$84
2008
5,024
$204,185
$199,782
97.94%
91
$86
For more information about Huntsville AL real estate, please visit MoveToHuntsville.com or call me at 256-508-0211.
People have asked me about FSBO (For Sale By Owner). They want to know whether it’s a good idea to use an agent and the answers to many other questions on this topic. I admit it; I’m biased. I am, after all, a Huntsville real estate agent.
I’ll even go a bit farther and admit that I’m biased about my hometown. As far as I’m concerned, if you’re going to buy a house, you should use me as your agent and buy a house in Huntsville. But then, that’s what most real estate agents will tell you.
Without the bias, however, there are some real issues with not using a Huntsville real estate agent (or any agent, anywhere, for that matter). And, there’s one BIG issue…
The Contract!
Okay, here’s the deal. A real estate contract, like any contract, is a sealed deal once the papers are signed. It’s legally binding and will be upheld in any court of law in the country, with few (and rare) exceptions.
Paradise is here and you have arrived. Come take a look inside this amazing ranch with your own private oasis. The one of a kind floor plan makes for enjoyable family living and easy entertaining. From the moment you enter into the tiled foyer you will see that this specially designed home has something for everyone. Step down into the great room with wood floors, gas fireplace and a wall of windows that brings the lovely outdoors in. An awesome designer kitchen features wood floors, vaulted ceilings, smooth top range, dazzling window, and an abundance of cabinet space. A beautiful gas fireplace adds ambience to both the sitting area and the great room. In addition to the formal dining room, there is a charming eat-in kitchen area with two picture windows. Need a place to call your own? Check out the sitting room, perfect for a home office as the view is endless. The master suite boasts an 11 foot trey ceiling, dual vanities, walk-in closet, whirlpool tub and separate shower. The additional bedrooms are sized perfectly for guests or a growing family. Relax on your covered patio and enjoy your retreat’s lush landscaping. Summertime is a blast with the inviting supersized pool with waterfall. The tree lined property has no neighbors behind and is fenced for extra privacy. Come on out today and start living in paradise!
Learn more about property 132 Medicine Bend and other Huntsville real estate by visiting MoveToHuntsville.com. Search all Huntsville real estate and homes for sale.
Do you have a competitive nature? Do you always have to have the last say? Do you always feel you have to win? If you have a home for sale in Huntsville, you may have “competed” yourself right out of a buyer. Please, read on to find out how NOT to make this mistake.
Who Calls the Shots?
You’ve probably heard “it’s a buyer’s market” many, many times already. With the number of people who have a home for sale in Huntsville, this is something you can’t afford to ignore. This is especially true considering that the longer your house sits on the market the more it depreciates.
A competitive nature is all well and good, but, when dealing with potential buyers, you have to rein it in. Winning, in this case, is not getting the last word, but selling your home. As you enter into negotiations, keep in mind that the end goal is to sell.
Buyers know they have the market. While this doesn’t necessarily mean they’ll try to walk all over you, it does mean that they may try to negotiate:
Step away from the bustle of the city and surround yourself in the serenity of mature trees and gorgeous views. These 6 beautiful acres are ready for your dream home. No need to worry about utilities as the water, electricity and septic are already on site. The tree lined driveway has already been cut and there is a circular gravel area for parking. There is room for storage in the barns and sheds already on property. Invest in the future or build now, but do not miss this opportunity. 3 additional acres are possibly available. Come take a leisurely walk on this lovely land!
Learn more about 214 Rascals Run Road and other Huntsville real estate by visiting MoveToHuntsville.com. Search all Huntsville real estate and homes for sale.
With the current Huntsville foreclosure woes, and the strains of the economy these days, many people are worried about what they’ll do when their ARM (adjustable rate mortgage) resets. Here are a few suggestions to help you weather the current financial storm:
What is an ARM?
ARM refers to a mortgage loan that has a variable interest rate. The amount of the monthly payments will change several times over the life of the loan. ARMs usually have a lower introductory interest rate than a fixed-rate mortgage. After a period of time, the interest rate is recalculated, resulting in a higher interest rate and monthly payment.
Get Out Your Loan Paperwork
Many homeowners are worried about what will happen to their monthly payments when the ARM resets. Foreclosure is a real worry. The best way to avoid Huntsville foreclosure is to know exactly what the terms of your loan agreement are. Look for the date that the interest rate is set to change. Find out what the cap is on each interest rate adjustment, and what the cap is for interest increases throughout the life of the loan.
Why is that? Are real estate agents just naturally better at it? Although I’d love to say yes, the reality is that there are just some things FSBOs don’t know. Because they don’t know it, they make mistakes. Some of the most common are:
If the location of your Huntsville home for sale isn’t great, the price and terms are the only thing that will sell it. Make them outstanding!
I’ll even go a bit farther and admit that I’m biased about my hometown. As far as I’m concerned, if you’re going to buy a house, you should use me as your agent and 
Who Calls the Shots?
What is an ARM?
