Whether it’s a single family home or condominium on the Jersey Shore, 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 nationally 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:

1. Incorrect pricing – The market can only bear so much. By pricing their Jersey Shore condos and homes too high, many FSBOs fail to sell. If your home isn’t selling, this may be the reason.

2. 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.

3. 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.

4. Financing questions – The prospective buyer wants to know their financing options. As a FSBO, you need to be able to answer financing questions and explain their options. To do this, you’ll need to build a network of financial experts.

5. Knowing contracts – You need to be well versed in legal jargon, so you can handle contracts, agreements and disputes. Make sure everything – the negotiations and the agreements – is in writing.

These five points are just a few of the things you need to know to sell condos and single-family homes on the Jersey Shore on your own. If you’re not prepared to do it all, hire an agent to do it all for you!

If you’re trying to sell your home or condo and need someone who knows the ropes, I can help. Call me today at 732-988-8900 or email me at Bob@AvonRealtyHomes.com for more information.

Links: Pricing
http://realestate.msn.com/article.aspx?cp-documentid=13108482

Ever since she was about 4 years old I’ve called my daughter Mary “My Princess.” The name was the result of an actual occurence and not just some name I dreampt up.
One summer day I was sitting on my front porch relaxing and out of the front door pops Mary’s two older sisters, Maggie and Mo followed by Mary. They were playing dress up. Mary then rushes out and stops at the top of the porch steps, twirls around and exclaimed, “Look at me, I’m a Princess.” So ever since that day I’ve called her Princess.
In July of 2008, Mary left Avon for a job offer in Arizona. She then left Arizona for Northern California and now lives outside of San Francisco in Walnut Creek.
Although my wife Peggy visited Mary while she was living in Arizona, I haven’t seen my Princess since the day she left in July of 2008.
She’s coming home next Saturday, December 19th and naturally I can’t wait to see her.

Those with homes for sale on the Jersey Shore are buckling down for the long haul, but exactly how long will that be? I spent a little bit of time roaming the Internet to get the general “feel” from people on the housing market. It turns out that the answer all depends on who you ask…

Housing Predictor
Housing Predictor.com says, yes, the housing market appears to be making a rebound. However, that rebound, says economist, John Hines, is a false front. The government is pushing the rise in sales to make the housing markets look good and increase buyer confidence. Will the market ever get back on track? According to Hines, if Congress can get the lending pipeline going again, we might finally see a bottom around the third quarter of next year.

The Ledger
According to an article at The Ledger, Stephen Blank of the Urban Land Institute isn’t at all optimistic. Blank says there’s no quick fix, and that 2010 will be sobering. While the housing market is being helped by various factors, the foreclosure rate probably isn’t going to drop and lenders aren’t lending. Blank worries that financing may be lacking, even for those wanting to buy. He doesn’t see the market doing much for another year.

CBS Money Watch
The best article I’ve come across so far, however, was written back in June at CBS MoneyWatch. The article says give the market at least seven years to recover. The author doesn’t just quote doom and gloom, however. She has some great points for people with homes for sale on the Jersey Shore. I highly recommend the read, but here is the quote that stuck firmly in my mind:

“If you are a seller, get realistic about what you can get for your house. With so little upside in the foreseeable future, you may be better off to sell, even at a loss, since you can probably get back into a similar house at a lower price and very low interest rates.”

It’s a buyer’s market; the supply of empty homes is much higher than the demand for them. If you have one a home for sale on the Jersey Shore and it’s not selling, you may need to change your mindset a little. In this buyer’s market, sellers may just have to bite the bullet.

Ready to buy or sell? I can help. Give me a call today at 732-988-8900 or email me at Bob@AvonRealtyHomes.com.

Links:
Housingpredictor.com
http://www.housingpredictor.com/bottommarket.html

The Ledger
http://www.theledger.com/article/20091122/REPORTER/911225006/1035/BUSINESS?Title=Experts-No-Quick-Fix-for-Market&tc=autorefresh

CBS MoneyWatch
http://moneywatch.bnet.com/retirement-planning/article/real-estate-forecast-3-things-to-know-about-the-housing-market/315696/