ForSalebyOwner.com Founder Uses Agent to Sell Home

Daily Real Estate News | Tuesday, August 09, 2011

The founder of a popular for-sale by owner Web site used a real estate broker to help sell his 2,000-square-foot, two-bedroom New York apartment after it lingered on the market for six months. Colby Sambrotto, the founder and former chief operating officer of ForSalebyOwner.com, tried to sell the property himself by listing it online and through classified ads, but after six months of it sitting on the market, he sought the help of a real estate broker.
Broker Jesse Buckler told Sambrotto the condo was priced too low and wasn’t attracting the right buyer for the condo.
"At first he wouldn't let me increase the price," Buckler said. "I told him I know what I am doing—the market is picking up."
The condo soon attracted multiple offers and ended up closing recently for $150,000 more than the original asking price.
#realestateallaround

FSBO Sellers Decline as More Sellers Turn to Real Estate Agents to Sell the Home

The method most used to sell a home has changed in recent years. A higher share of sellers are relying on the expertise of real estate agents and brokers to sell their home, rather than trying other methods.

• From 1991 to 2011 the share of home sellers who used a real estate agent or broker to sell their home increased from 77 percent to 87 percent.
• Over the same time period, the share of sellers who sold their home as a FSBO (For-Sale-By-Owner) decreased from 19 percent to 10 percent.
• Sellers use real estate professionals to help them sell their home in a reasonable timeframe, to market their home to potential buyers, and to price the home competitively.......#realestateallaround

Is That Rental in Foreclosure?

Daily Real Estate News | Tuesday, December 06, 2011

More “accidental” landlords are surfacing as home owners turn their underwater homes into rentals to try to come up with some extra cash. But some of these accidental landlords are still unable to keep up with their mortgage payments and may become delinquent on their mortgage. So what’s this mean for the person renting their property?
Some renters may suddenly be served with an eviction notice when they discover the property they are renting is being foreclosed upon, and only having days to vacate.
One new Web site, CheckYourLandlord.com, allows renters to check rental properties in the U.S. to see if there are any notices of default filed against the property.
Renters, or real estate professionals who represent them, can also stop at the county recorder’s office to check the status of a property.

Fannie Mae has announce that it will suspend evictions of foreclosed single-family and two--four-unit properties from December 19, 2011 through January 2, 2012.

During this holiday period, legal and administrative proceedings for evictions may continue but families living in foreclosed properties will be permitted to remain in the home.

Homeowners with Fannie Mae-backed loans can call 1-800-7FANNIE or visit www.knowyouroptions.com for information and resources on foreclosure prevention options, including contact information for the Fannie Mae Mortgage Help Center or a HUD-approved counseling agency in their area.