For Sale By Owner Marketing Tactics 101

For Sale By Owner Marketing Tactics 101


One of the most challenging aspects of selling a For Sale by Owner (FSBO) home is attracting qualified and interested buyers. There are several real estate marketing opportunities that should be considered.

First you need to spruce up your home, fix what is broken, tidy up the gardens, cut down dead or overwhelming vegetation. Put yourself in the position of the buyer, it’s difficult to be objective, but it’s a good mindset to start with. You also need to ensure that the price you have set for your FSBO home is fair and compares with real estate sold in your area that is similar to yours. You can usually engage a local realtor to provide a free estimate (they do it as a favor in hope that you don’t sell your home yourself and list with them later) or have a hire and pay to have a professional appraisal done. A professional real estate lawn sign is the next essential – a shocking 18% of all successful home sales are initiated by a real estate lawn sign. From there you should consider “creative” classified advertising in local papers.

Additionally, although it is more expensive, you may want to consider “Display Advertising” in your local paper. It is becoming more and more important to advertise your FSBO home on the internet - today’s prospective home buyers demand it. Online real estate listings are an integral part of any successful FSBO real estate sale – again 70% of all home purchasers start there search on the internet. Furthermore, internet advertising allows you to display full color pictures and lengthy descriptions that you could never justify the expense of in classified or display advertising. Another consideration is a For Sale by Owner – “Open House”. There are compelling arguments for both sides regarding the advantage of Open Houses. Many argue that they are a waste of time and are primarily an opportunity for the real estate agent to gather sales leads (people looking to buy a home, just not yours). Others contend that you can’t sell a home without the prospective home buyer having the opportunity to view it.

Another consideration is Flat Rate MLS listing. MLS is a very valuable marketing venue; it exposes your FSBO home to literally thousands of REALTORS ® nationwide that may have a buyer looking for exactly what your FSBO home offers. It also provides very valuable marketing exposure on Realtor.com which enjoys 7 million visitors/month. Flat Rate MLS cost is in the $399 - $599 range, depending on state and coverage. In this situation you agree to pay the selling agent their regular real estate commission (usually 2.5 – 3.0%) – you still save significant real estate commission fees and may facilitate a quicker FSBO home sale. You maintain the right to sell your home yourself without paying a realtor sales commission so in effect it is the best of both worlds.

As many sales people can attest to - nothing sells itself – that includes your home. It is shortsighted to think you can save 100% of a typical real estate sales commission. That said, count on spending at least 1% to effectively market your FSBO home – if your home is at the national average ($238,000) that amounts to $2,000+ but leaves a 5% savings or $11,000 - which is still a significant savings!


http://ezinearticles.com/?For-Sale-By-Owner-Marketing-Tactics-101&id=471577

The ABC's of For Sale by Owner

The ABC's of For Sale by Owner

By Mark Camphaug


Congratulations - you have made a decision that will likely represent the largest and most significant savings of your life. If your home is worth $278,000 (national average sale price of existing home) it’s a decision that can potentially save you over $16,000.

Here is a Step by Step “For Sale by Owner” Guide.


Step 1 – Prepare your FSBO home for sale:

• The simple fact of the matter is that the better your home looks and the general state of repair it is in is going to have a tremendous impact on the overall value and salability of your home. There are literally thousands of articles on the internet that will walk you through various “tried and true” methods to squeeze the most out of your home sale.


Step 2 – FSBO Appraisal

• Get a professional appraisal. You can pay for one ($40 - $100) or you can usually get a local realtor to perform an appraisal in the hope of listing your property after you give up trying to sell it yourself. Either way you obtain a realist price based on comparables. One of the most common mistakes by For Sale by Owner’s is pricing their home too high or too low – either way you lose. A professional appraisal can be a valuable sales tool to have it on hand when prospective buyers visit your For Sale by Owner property.


Step 3 – List Your FSBO

• Online Listings - First step is to get your home “listed” – there are several online venues that offer an opportunity to create an FSBO “online” listing. Prices range from “FREE” to $999 – depending on package. The internet has leveled the playing field significantly for FSBO’s – over 70% of all homebuyers see the property they buy online first!

• Flat Rate MLS – There are real estate agents that will provide what is referred to as a “Flat Rate MLS” fee. These agents simply charge a flat fee – usually in the $499 range to expose your property to the Realtor’s greatest sales and marketing tool. You agree to pay a pre-arranged commission (usually 2.5 – 3%) to a “selling agent” but maintain the right to find your own buyer and sell your own home without paying a commission fee. This route provides has a higher success rate then a “pure” FSBO sale and the homeowner still saves 3% on the sale of their home.


Step 4 – Market your FSBO

• There are many marketing steps and opportunities, but there are primary items associated with a successful FSBO sale. Number one is professional signage (18% of all home sales are initiated by a real estate lawn sign). Once you have your sign up you want to get as much exposure as possible. As previously stated there are several venues to list your home – some are free  - the most prominent free listing sites are Craigslist and FreeFSBO.com. The next step is traditional advertising, it’s unrealistic to think you can sell your own home and not incur some marketing costs. Once you have your sign and FSBO reference # you can start with some low cost classified advertisements that direct prospective home buyers to your online FSBO listing. You may also want to consider Open Houses although I am not totally sold on their direct value to the homeowner. I know Realtor’s use them as lead generation events – visitors may not be interested in your home but they are interested in “a” home. Since you are only concerned with one home the value of an Open House should be strongly scrutinized. Word of Mouth is another marketing tool – tell people you are selling your home – you would be amazed how many people buy homes from people they know. They may also know someone looking to move into the area. Print some flyers and get them up on local bulletin boards (grocery stores, video outlets etc).


Step 5 – Show your FSBO home

• So now you have a prospective buyer. Set up an appointment and make sure house is as neat as a pin (see Step 1: Prepare your home for sale). Escort the prospective buyer walk through your home at their pace. Answer questions, if prompted, don’t give long winded whimsical narrations in each room - once you walked through the home you can ask them if they would like to go through the home again by themselves while you make coffee or tea. Don’t be too chatty or pushy. They are their to see your home not to become your new best friend. Remember, they are typically with a Realtor that has little or no knowledge of your home – try to act professional and helpful throughout the showing.


Step 6 – Sell your FSBO Home

• Make sure you have a “sign in” book to capture name and phone number of potential buyer. Follow up the day after showing. Just a simple – “Hi, I’m just following up to see if you had any questions regarding the home” If they ask questions I would answer a few but tell them you will get back to them with some answers. This gives you a reason to stay in contact. Try to encourage “written” offers. There are great state specific “Home Sales Kits” that provide all the documentation required to facilitate the legal sale of your home - US Legal Forms is a great source (the state forms are in the $40 range).


Step 7 – Close your FSBO home sale

• Spotting “Buyer Signals” is easier then it sounds. Once you have a prospective buyer that has shown strong interest you have to ask for the sale. Here are some great “trial” close lines - “what would it take to put something to paper” or “you sound very interested, are you ready to write an offer?” or you can take the lighter, direct approach – clap your hands together and say “while - let’s write it up”. Remember to be yourself. Bottomline is most people will drag their feet unless there is urgency. I don’t think you should create false interest but if there are other scheduled showings let the prospective buyer know.

So, now you are ready to sell your own home? No - but you are certainly better prepared. The internet is a glorious tool that is full of helpful hints on how to sell your own home – leverage that resource. As you know the savings associated with a successful FSBO sale is tremendous. Any advantage or edge you can gain will save you thousands of dollars – it is definitely worth the effort.

With Little Cash Flow and Lots of Equity, Seniors 'Reverse' Mortgages

With Little Cash Flow and Lots of Equity, Seniors 'Reverse' Mortgages

Sitting on mounds of equity but faced with mounting bills, senior homeowners are increasingly turning to reverse mortgages for extra cash.

By KELLY BENNETT Voice Staff Writer

Monday, April 23, 2007 | When Myrna Reese was still healing from a near-fatal accident six years ago, doctors realized her husband, Lou, had a serious heart problem requiring a quintuple-bypass surgery.

As self-employed public relations consultants, the couple's ability to make the mortgage payments on their Rancho Bernardo home depended on their ability to work. With both of them in poor health, they realized it would be difficult to keep up without draining their savings.

A Reversing Trend

The Issue: Reverse mortgages allow homeowners 62 and older a chance to tap into the equity they’ve amassed in their homes over the last few decades. Fourteen times more people took them out in 2006 than they did in 2001 in San Diego County.

What It Means: Senior homeowners whose monthly mortgage payment eats up a chunk of their pension or Social Security income can let the reverse mortgage pay off their initial loans, eradicating their monthly payment. And leftover equity can be withdrawn like a credit line or in monthly installments or in a lump sum.

The Bigger Picture: With increasing health care and living costs for the region’s senior citizens, many say tapping into the investment they’ve made in their home is their only chance at a decent standard of living for retirement.

They had paid $138,000 for the two-story home in 1980, but its value had ballooned to $750,000 in the two decades since. So they took out a reverse mortgage that allowed them to receive some additional monthly income from the equity they'd built up in their home, while eliminating their monthly house payment.

Then, just a few weeks later, Lou died. The timing was quicker than they'd expected. The couple had taken out the reverse mortgage just in time, Reese said. "It saved me from having to worry about paying the mortgage," she said. "I wanted to stay here. There were a lot of memories."

The Reeses fit into a growing trend of San Diego senior citizens who are using these reverse mortgages to tap into the enormous amounts of equity they've amassed in their homes over the last few decades. Exponential increases in home values in San Diego mean many such homeowners are still paying off their initial mortgage, while if they were to sell, they'd profit hundreds of thousands of dollars.

Instead of selling, though, these seniors leverage the vast equity they've built up into a sort of loan that can be used to cover their living and health costs.

And the loans don't need to be paid back until the home ceases to be the borrower's primary residence -- either by death or because of another living arrangement. That loan is usually covered by profits from the eventual home sale.

Most popular is the option to treat the equity like a credit line, where homeowners just withdraw as much as they need, when they need it. Others choose to receive monthly checks or a lump sum to cover a renovation or a health procedure. They first must use the reverse mortgage to pay off their initial home loans, eradicating their monthly payments.

"Our homes have appreciated so much," said Liliane Choney, who runs a Reverse Mortgage Experts program through a local nonprofit organization. "Someone may be living in a $600,000 home, but how do you tear off a piece of your house? You can't chip off the window frame and take it to the grocery store."

With an aging baby boomer population, rising health care costs, pension uncertainty and an ever-climbing cost of living, the popularity of these loans among elderly homeowners and their children has soared in San Diego County. The National Reverse Mortgage Lenders Association estimates 1,759 reverse mortgages were made in San Diego last year, more than 14 times the volume in 2001.

"California's the hottest reverse mortgage loan state in the country," said Darryl Hicks, spokesman for the association.

Advocates of reverse mortgages say they fight a laundry list of stigmas and misconceptions about the loans, largely because of the growing distrust of mortgages -- and brokers -- that sound too good to be true. But they still stress the reverse mortgage option as a lifesaver for elderly homeowners.

The loans are sufficiently confusing for those choosing them that a counseling session is required by the federal government before signing the contract. But once homeowners understand what the loans can do, industry advocates say it can be the difference between enjoying the last 20 years of your life or struggling to pay for groceries and prescriptions until you die.

"If they're living a hand-to-mouth existence, but sitting on a half-million dollars of equity, it's honestly like sitting there and thirsting to death with a cup of water sitting right there in front of you," said Dan Holbrook, president of the AtVantage mortgage brokerage firm.

The loan amount varies based on the age of the homeowners and how much equity has amassed. At least one of the primary homeowners must be 62 or older. The Federal Housing Administration's reverse mortgage program, called the Home Equity Conversion Mortgage, limits the equity that can be withdrawn at $362,790.

The loan is repaid when the home is no longer the primary residence of the homeowners. Whatever equity is withdrawn through the reverse mortgage, plus the fees and closing costs and interest accrued, is taken out of the proceeds of the sale of the home, whenever that happens.

Nine of 10 reverse mortgages are under that federal program, Hicks estimates. The industry group represents about 550 lenders nationwide, and those lenders offer about 95 percent of the reverse mortgages in the country, he said.

Because of the counseling requirement and other time-intensive aspects of the closing process involved in making one of these loans, it takes a special kind of lender -- most likely, a patient one -- to specialize in this area, Hicks said.

"There's a lot more care that goes into this product," Hicks said. "A lot more hand-holding. I'm not saying that every senior has difficulty dealing with financial matters, but in these types of cases, it takes a gentle hand and a patient loan officer."

Because many elderly homeowners have little cash flow but a lot of equity, they're often financially vulnerable to marketers offering solutions to their problems. Not all loan officers are qualified to offer the reverse mortgages, so some target the elderly homeowners with the products they can offer, including high-cost refinancing loans, even the risky subprime loans designed for poor-credit borrowers.

Those often start with manageable monthly payments but can skyrocket down the line, potentially sending someone with $400,000 in equity into foreclosure if they miss too many payments.

Holbrook said such loan officers aren't solely to blame for elderly consumers getting into the wrong loan.

"People sell what they have," he said. "If you go into a mechanic, he's going to fix what's there; he's not going to sell you a new car."

That's why Roger Reynolds of Security One Lending, a local firm specializing in reverse mortgages, said he's found counseling to be one of the most important parts of the program.

"It's kind of like your first-time homebuyers counseling," he said. "Sometimes seniors don't even need a loan; sometimes they need some help with their taxes."

Choney, who runs the experts program, said her biggest goal is increasing awareness of the reverse mortgage option in the senior citizen community, especially for those whose Social Security allowances and pension falls short of covering their monthly expenses.

She partners with Kenneth Terrill, a reverse mortgage lender with American Mortgage Professionals, to guide consumers through the process, from dealing with their initial fears to signing the papers.

Terrill and other reverse mortgage professionals said one of the biggest hurdles they face in their conversations with potential clients is their aversion to withdrawing from what they consider to be their children's inheritance. But as the life expectancy increases, so does the number of years people are forced to live on their retirement savings.

Hicks said kids are often the ones making the first call.

"Some seniors still have the notion that they've got to leave something for their kids," he said. "But more kids are encouraging their parents to get reverse mortgages because they themselves can't take care of Mom and Dad."

And Reese, the homeowner with the reverse mortgage, said there's plenty left for the five children she and her husband had between them. Reese said she can't imagine her life without access to the equity in her home.

Her accident left her unable to smell or taste, but with three small dogs who tend to "piddle here and piddle there," Ziggy, Shetzi and Suzie, the carpet began to smell, visitors to her home told her. So she withdrew money from her equity to have the floors retiled.

Incredible Shrinking Houses Lure Home Buyers

Incredible Shrinking Houses Lure Home Buyers

More Americans are shunning McMansions for smaller, traditional homes.

By Clayton Collins
The Christian Science Monitor

EUREKA SPRINGS, ARK. -- Melissa Greene once lived in a big Victorian, the sort of place with sacrosanct parlors used mainly to display stiff-backed chairs. For the past five years she has lived more contentedly, she says, in a modest 1,100-square-foot home.

She and her husband, Joe, own even smaller houses that they rent to tourists in this arts-rich Ozarks town. This spring, the couple is moving full-time into one of those itty-bitty abodes, a restored 1880s worker's cottage less than half the size of a tennis court. Joe hammered away at a back deck on a recent afternoon.

More on thinking
(really) small

Several books, including "Where Men Hide" (by James B. Twitchell and Ken Ross) and "A Place of My Own" (by Michael Pollan), explore small buildings of the clubhouse variety. More broadly, these websites are maintained by major small-house (even treehouse) builders and advocacy groups:

* The Small House Society, dedicated to the promotion of smaller housing alternatives.
* Romero Studios, a design collaborative that builds "sculptural" tree houses.
* Ross Chapin is a firm specializing in scaled, custom residential design and neighborhood development.
* Tinyhouses.net offers an aggregation of small-house images from around the US.
* The Tiny House Company is a Virginia-based builder of small homes.
* Tumbleweedhouses.com is the homepage of Jay Shafer, a designer specializing in sustainable architecture and urban planning.

"I've always liked them," Ms. Greene says of use-it-all living spaces with dollhouse dimensions that send realtors scrambling for optimistic adjectives. "I even lived in 650 square feet of a bed and breakfast that I had," she says, "though it took a year to learn how."

The Greenes embody a nascent small-house renaissance that has crept from renovations into new construction.

Even in this era of foreclosures and wallet- draining utility bills, plenty of suburban subdivisions still sprout 4,000-sq.-ft. McMansions. But between 2005 - when the average floor area in a new home hit a peak of 2,434 sq. ft. - and 2006, US architects reported less demand for increases in the square footage and volume of homes, says Scott Frank, a spokesman for the American Institute of Architects. He cites "a reversal of the decades of expanding home sizes."

Some of that can be attributed to empty-nest demographics, to property-tax hikes, and to new pockets of communitarian thinking. Some of it is simply style.

" 'Cottage' is the biggest word in decorating right now," says Greene. And if many smaller homes take on the proportions advocated most prominently by Sarah Susanka, author of "The Not So Big House" - think half a McMansion or less - some now borrow from the blueprints of the truly tiny.

Next month, building-supplies giant Lowe's aims to go national with plans and kits for the frame-built "Katrina cottage" developed by Marianne Cusato in the wake of that hurricane as an alternative to government-issue trailers. Options range from 550 to 940 square feet.

"What we've noticed is that as we're building a few down there, the number of phone calls to [our] stores increases threefold," says Jennifer Wilson, a Lowe's spokeswoman. Lowe's declines to release numbers, but Ms. Wilson says requests for $2 plan books have come from every state and "probably almost every continent but Antarctica."

Ms. Cusato, too, was surprised that her design would provoke such interest. "A lot of people instantly came to us and said, 'Wow, it's perfect. I've got an elderly parent,' " she says. "[We had] people saying 'I want to downsize, I don't want a huge house,' [and] people looking for affordable housing. Then there's the vacation side of it."

Some see Cusato's success as a sign of broadening acceptance of small homes.

"Jay Shafer [of Tumbleweed Tiny House Co.] may be the famous one for being at an extreme - under 80 square feet - so he gets on Oprah," says David Harned, a tiny-house devotee who runs the genre-celebrating website tinyhouses.net from his 1,200-square foot home in Kalamazoo, Mich. "[But] I think Ms. Cusato is the first to reach a broad audience with a genuinely small design that won't create a generation of claustrophobes."

Mr. Harned sees the pull of tiny houses as being as strong as that of tiny, efficient cars - an attraction that's intellectually appealing but that can represent a major life change. Full-time use often calls for support systems - communities with shared common spaces. The current "green building" trend and architects like Ross Chapin - who favors a dozen or so small homes arrayed around garden space - have boosted the number of small alternatives

Small-house building represents an art, Harned maintains. "It has to be true to [its chosen] style, and the proportions have to be just right or it kind of looks silly, and like an outbuilding more than a tempting place to go and investigate."

Here in Eureka Springs, woodworker and teacher Doug Stowe ripped old boards lengthwise to achieve proper scale with the siding on the 200-square foot getaway he built on a limestone ledge just up the hill from his unassuming main house.

Mr. Stowe's initial plan - inspired by a treehouse - was for a 7 foot or 8 foot by 10 foot cabin. Then his wife and young daughter asked where the sofa was going to go. "It morphed," Stowe says, into a slightly more elaborate retreat. Last fall he replaced the 100-foot extension cord from the main house with a small solar panel by the cabin, now used for overnights, though no bathroom - not even a composting toilet - is yet on the agenda.

"I'm so fascinated by space," Stowe says, adding that he doesn't understand gratuitous expansion. "I don't know what happened to people's scale of things."

Part of what happened, say Ms. Susanka and others: Too much emphasis has been placed on what is "needed" for home resale as opposed to what's needed for sustainable life.

"My experience is that there is a segment of the population who really love smaller spaces because they don't require nearly as much upkeep, they're much less expensive to run - all sorts of things," says Susanka, who lived briefly in a 96-square foot space in Oregon in the 1970s that required her to hang her Christmas tree upside-down from a rafter.

"They want something that's got quality and character, that's energy-efficient," she says. "It's sustainable design, but it's also something that makes them feel like it's a wonderful place to live."
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Thinking the Market Isn’t Right for FSBO Sellers?

Thinking the Market Isn’t Right for FSBO Sellers?



If you’re thinking that the housing market may not be right for FSBO sellers - think again.

True, there are more houses on the market. It’s also true that mortgage rates are rising. However, that doesn’t mean that using a real estate agent will improve your chances of selling your home.

By taking the time to understand buying trends in your area, preparing your home well, holding open houses and - of course - listing your FSBO home in the MLS, your chances of selling your home on your own are actually really good.

When you factor in the savings of not paying a commission to a seller’s agent, and take into consideration the services available to FSBO sellers from If you’re thinking that the housing market may not be right for FSBO sellers - think again.

True, there are more houses on the market. It’s also true that mortgage rates are rising. However, that doesn’t mean that using a real estate agent will improve your chances of selling your home.

By taking the time to understand buying trends in your area, preparing your home well, holding open houses and - of course - listing your FSBO home in the MLS, your chances of selling your home on your own are actually really good.

When you factor in the savings of not paying a commission to a seller’s agent, and take into consideration the services available to FSBO sellers from IHS Realty, you’ll recognize that it’s a great time to be a FSBO seller.
http://www.ihsrealty.com/

DubaiFSBO.com - The First FSBO Real Estate Listing in Dubai

DubaiFSBO.com - The First FSBO Real Estate Listing in Dubai


(PRLEAP.COM) DubaiFSBO.com is the first website that provides For-Sale-By-Owner, Real Estate Agent, Brokers and Dubai Developers, free Dubai Real Estate Listing for extensive exposure to properties on sale.

Acronym FSBO, standing for "For Sale By Owner", has been used widely in the United States of America and worldwide. According to the U.S. National Association of RealtorsTM, their annual survey of real estate consumers shows that 12% of real estate transactions were FSBO in 2006 where an estimated 60% of homes are sold privately.

밊or many property owners using an agent may still be the best option and we are not against Real Estate Agents. We simply believe in offering sellers a choice. We highly recommend Real Estate Agents and Developers to list their properties for sale or for rent?says Steve Suard, owner of DubaiFSBO.com

Some Features of DubaiFSBO.com websites are Pictures, Videos, Maps, GoogleTM Earth, mortgage calculator and more.

Buying and selling property directly, can make savings on real estate listing fee or commissions.

Property owners can choose the amount of day exposure they want their property listing to get with descriptions, multiple photos, videos, floor plan….

Developers and Real Estate Agents have the ability to list unlimited properties for free and if they wish to get additional benefit of exposure on DubaiFSBO.com homepage, there are affordable featured listing packages available.

According to Steve SUARD, Dubai FSBO.com real estate search form allows buyers to search for property listings by area of Real Estate Projects within Dubai (Palm Jumeira, Dubai Marina, Deira, Business Bay? as well as price range and type of property for sale or for rent.

DubaiFSBO.com also offers extremely cost-effective banner advertising options to advertisers looking to reach an extremely targeted audience of Dubai property buyers, sellers and renters.

No doubt, this is the first FSBO website in Dubai and will soon be essential to all buyers and sellers in the United Arab Emirates and worldwide.
Visit : www.DubaiFSBO.com

Definition of FSBO

Definitions of fsbo on the Web:

For sale by owner. A property for sale that is not listed with a real estate broker.
www.afifinancial.com/information.php

Homeowner acting as salesperson for his own property. No listing commission is paid but a sales commission may be paid to a buyer's agent.
www.miami-real-estate-agents.com/f3.html

A home that is offered for sale without the use of a real estate agent.
www.nuestracdc.org/Mortgage%20Terminology.html

Indication that the owner of a property is attempting to find a purchaser for her property on her own, without employing an agent.
www.krisholmes.com/gloss-f.htm

A selling method whereas the owner of the property acts as the selling agent and handles the sales process directly with the buyer or buyer's agent. This is most commonly done y owners in order to avoid having to pay a listing commission.
www.realestateglossary.com/real-estate-glossary/f.html

Real Estate that is sold without the assistance of an Agent. FSBO can refer to both the individual selling the property "They are a FSBO," or the property itself "that house is a FSBO."
www.homebuyerconnect.com/real_estate_glossary.php

For Sale By Owner. Also known as a Private Sale.
www.fsbohowto.com/real-estate-terms.html

FSBO is a generic term meaning that the home is being sold by the owner without the assistance of a Realtor.
www.finding-a-real-estate-agent.com/glossary/

For Sale By Owner, owner advertises property for sale without the help of a professional.
www.spokanehomes4u.com/glossary.html

Stands for “For Sale by Owner” (pronounced "fizzbo). A property and/or person that is marketed by the owner without the assistance of a conventional real estate broker. FSBOs account for approximately 20 percent of all real estate transactions.
www.directlinehomemarketing.com/glossary.htm

FSBO (pronounced Fizz-Bo) is shorthand for "For Sale By Owner".The term is used by real estate agents to denote property, usually homes, which is sold by the owner without help from a realtor (real estate agent).Typically, owners advertise their properties by means of classified ads, Web sites, word of mouth, and other means.
en.wikipedia.org/wiki/FSBO

A Secret To Real Estate Profits – Follow The Builder

A Secret To Real Estate Profits – Follow The Builder


Submitted by Staff on April 15, 2007 - 3:31pm. Home and Leisure | Real Estate





As the real estate market cools, the profit potential of home ownership has cooled as well. Here’s a strategy called “follow the builder.”

It is relatively easy to make a profit when you sell your home if the market is rising sharply like it has been in most of the country for the last three years. It becomes more difficult when a hot market slows down. It’s very difficult to make a profit on the sale of your home when prices are falling.

Is there a way to be relatively sure you’ll make a profit when you sell your home? There is under all but the most negative market conditions. In fact, I’ve seen young, energetic couples use this maneuver multiple times when they don’t even need to move.



Follow That Builder

In many areas of the country, there are builders who build hundreds of houses each year within a fifty mile radius of each other. They build entire communities or are one of three to five builders who build entire communities around big employment centers. This present you with an important opportunity.



New Community

Builders will typically sell first phases of communities for significantly less than later phases. On one hand, they need to get the cash flow moving. On the other, it is harder to sell at high prices because the community typically consists of dirt lots and construction equipment. Put the hands together and you have a great profit opportunity.

The idea is to get in on the first phase of the build out. You will purchase the home at a discount, which gives you built in equity. As the community is built up, you sell the home for a profit at a higher price. While you’re doing this, you keep tabs on the builders projects and find another location where you can do the same thing.

You’ll end up living in each house for a year or more and picking up nice profits along the way. The only real downside is you have to move repeatedly.




Tax Consequences

I’ve seen this work well for a number of people who have done it more than once. However, you need to be aware that generating profit this way can have tax consequences. You need to discuss your plans (including projected timing and profit potential) with your tax professional so that you are prepared to deal with any tax consequences.

FSBO Homes Irmo, South Carolina

FSBO Homes Irmo, South Carolina




For More Info : FSBO Homes Irmo, South Carolina
Address :307 Rolling creek Circle Irmo, SC 29063


This beautiful brick home is located in the desirable Rolling Creek subdivision & is

move-in ready! This home has many beautiful features such as wood floors, heavy molding and has plantation shutters throughout the house. The kitchen has a large pantry, ceramic tile floor, granite counter tops & built-in microwave. The dinning room features wainscoting & heavy molding. The family room features wood floors and a fireplace with gas logs. The formal living room can be used as an office. The BONUS room is a great place for family time and has lots of extra storage space. The large master bedroom features a spacious master bath with a jacuzzi tub & separate vanities. Your family will enjoy the oversized private lot, screen porch and deck. The neighborhood is wonderful and has a pool that everyone will enjoy.

Realty Check: Tricks of the Trade

Realty Check: Tricks of the Trade




So, you have decided to sell your home on your own. You put a shiny red-and-white "For Sale By Owner" sign in the front yard and place an ad in the local newspaper. You're ready to sell and even more ready to save money by not paying that real estate agent's commission. The phone rings.

"Is it a potential buyer," you wonder?

No, it's a real estate agent -- the first of many agents who will likely call you.

You see, "For Sale By Owner," or FSBO, as they are called by agents, are regarded as free bait, because your sign lets them know you want to sell your home.

The challenge for them is getting you to list it with their agency instead of selling independently.

Research shows that approximately 85% of all FSBO will eventually list with an agent. So the moment your home becomes a FSBO, it has also become the "catch of the day" for hungry agents.

But -- you can make this scenario work for you with just a little bit of strategy.

First, take time out to talk with all agents that call. Most will try to find out if you already have a listing agent in mind if your FSBO doesn't work out.

Second, this direct communication gives you a chance to separate the dolphins from the sharks. Those agents only interested in getting your home listed quickly will retreat once they sense you are not an easily persuaded potential listing.

But sometimes an agent's real agenda is not always that clear. Some agents will ask to preview your home, justifying their interest by saying they have a readily available buyer in mind. Most of the time, there is really no way to tell if the agent really does have a buyer or is just telling you that to reel you in. Your best bet is to allow them to preview your home, but without a buyer.

Some agents will ask to bring potential buyers during this initial viewing, but be aware; some agents will bring fake buyers, someone who is only posing as a buyer. Producing potential buyers is designed to give you the impression the agent is already busy trying to sell your home. This scenario is a common sales tool used dishonestly and intended to peak your interest in the real estate agent's supposed skill at selling your home. This may be shocking, but remember real estate is a business, a fiercely competitive business. If the agent wants to turn your FSBO into a listing (and a potential commission), that agent will try very hard to hook you using whatever means it may take.

To protect yourself, always get the potential buyer's first and last name and "Google" the person as soon as possible after they leave your home. At least this way you may be able to discover if the potential buyer the agent just brought by is really a fellow agent at their office or someone who is actually interested in buying your home.

Although this scheme may happen, you should also realize that there are honest agents out there. So, if you are trying a "For Sale By Owner" listing for your home, be wary and wise, but don't always just ignore licensed real estate agents.

The bottom line: agents visiting your home bring knowledge of the local market, tips on making it more pleasing, and sometimes potential buyers. There are honest agents who are truly interested in helping you sell your property...but you must watch out for those sneaky sharks!

American Home Mortgage Investment upgraded to "buy"

American Home Mortgage Investment upgraded to "buy"

Thursday, April 12, 2007 11:44:56 AM ET
A.G. Edwards & Sons

NEW YORK, April 12 (newratings.com) - Analyst Greg Mason of AG Edwards upgrades American Home Mortgage Investment Corp (AHMH.NAS) from "hold" to "buy," while raising his estimates for the company. The target price is set to $23.50.

In a research note published yesterday, the analyst mentions that the market has overreacted to the company’s downwardly revised dividend and earnings guidance. American Home Mortgage Investment’s early payment defaults are expected to decline going ahead, since the company is discontinuing the sales of its high-risk products, the analyst says. The company is unlikely to announce additional dividend targets going forward, AG Edwards adds. The EPS estimate for 2007 has been raised from $1.19 to $1.20.

FSBO Homes Tonganoxie, Kansas

FSBO Homes Tonganoxie, Kansas




For More Info : FSBO Homes Tonganoxie, Kansas
Address :22416 Todd Road Tonganoxie, KS 66086


Beautiful Custom built earth contact home on 10 Acres. 3Bdrm & 2 Bths. Great Room has skylights,ceiling fans & awsome stone fireplace. Master bath has 2 man whirlpool tub. Must see to apreciate Call Patti at 913-369-2279 or 913-645-6082

FSBO Homes Woodland Park, Colorado

FSBO Homes Woodland Park, Colorado




For More Info : FSBO Homes Woodland Park, Colorado
Address :25 Aspen Drive Woodland Park, CO 80863


Newly Remodeled 1.5 story with beautiful Pikes Peak View. Most of home has been re-floored and painted. Oversized kitchen, new laminate flooring, lots of cabinets and counter-top space. Jenn-Air range/oven in island. Pot and pan rack included. New counter tops. Spacious dining area, walk out to deck. Vaulted and beamed ceilings in living room, with wood accents. Lopi free-standing wood burning stove, real moss rock hearth. Living room also has floor to ceiling windows to capture Pikes Peak view. Open loft overlooks living room and would make a perfect office, could be converted to fifth bedroom. Large Master suite with dual closets and octagonal window. Jetted tub in master bath. Main level laundry. Two other main level bedrooms. Rustic lower level family room with lots of cedar accents, dry bar and a walk out. Large fourth bedroom and storage area are also located on lower level. Two car attached garage. Huge mature pines. Private setting, good southern exposure, natural gas forced air heat. Short drive to downtown Woodland Park.

World’s Largest Real Estate Tradeshow

World’s Largest Real Estate Tradeshow Identifies Florida Real Estate Professionals as Ideal for International Expansion

Madrid Real Estate Exhibition To Take Place May 29-June 2, 2007

MIAMI--(BUSINESS WIRE)--SIMA07 will hold its ninth annual international real estate exhibition - expected to be the largest ever - from May 29th to June 2nd, 2007 in Madrid, Spain. As the leader in world real estate exhibitions, Madrid Real Estate Exhibition will provide an incomparable venue of opportunities to its international audience of over 150,000 participants, comprised of realtors, brokers, developers, landowners, consultants, construction companies, and other industry professionals.

Having chosen the State of Florida to launch the tradeshow’s international expansion, SIMA07 is receiving strong support from NAR, FAR and the Spain-US Chamber of Commerce in Miami.

Organized by Madrid-based Group Planner, a leader in the organization and promotion of retail exhibitions in Spain, the five-pavilion structure will host 800 participating organizations, a growing group from the international product sector outside of Spain – among these - The Realtor Association of Greater Miami and the Beaches (RAMB) with about 24 exhibitors, the Colombian Asociación de Inmobiliarios, the Argentine Cámara Empresarial de Desarrolladores Urbanos, among other representation from the U.S., Panama, Argentina, Colombia, Brazil, Uruguay, Chile, Italy, Mexico, Dominican Republic, Panama, Estonia, Bulgaria, Poland, Egypt, Greece, Slovakia, Portugal and Turkey. This global arena will be comprised of several meeting areas, and a dynamic agenda of seminars, panels and sessions covering the key aspects of the rapidly globalizing international real estate industry.

“For the professional interested in reaching beyond geographic boundaries, the international program offers access to a unique global inventory that can serve not only the local but the worldwide needs of clients and customers. We chose South Florida to communicate our expo’s fast-growing international area because we feel representatives from this particular market are knowledgeable not only about their local product offering but about the international marketplace, given that South Florida is now widely recognized as the commercial bridge between Europe and Latin America. Florida professionals may visit SIMA07 to target international investors, second home buyers and to exchange their experiences with other professionals, thereby accessing a wave of new business opportunities,” said Santiago Herreros de Tejada, Director of the International Area.

Additionally, as Florida becomes a pronounced international second-home and investment market, the event has established a reputation as a rewarding destination for Floridian professionals and organizations. SIMA07 offers an especially attractive tangible business factor: Its audience is largely comprised of end-consumers searching for the ideal properties, an approach still foreign in the North American real estate market.

This year’s fair will include the third editions of “The Latin American Real Estate Congress” and “The International Professional Program”. The latter, focusing specifically on the international globalization of the second-home and investment market, offers participants from more than fifty different countries a platform for sharing information regarding international real estate operations and conducting on-site global business transactions.

For individual registration, please consult www.sima2007.org. To contract booth space in the Florida Pavilion, interested organizations may contact Lynda Fernandez at RAMB (Real Estate Association of Greater Miami & the Beaches) via email at lynda@miamire.com, or via telephone at 305-468-7040. SIMA07 is also receiving strong support from FAR, NAR and the Spain-US Chamber of Commerce in Miami.

About Grupo Planner

Launched in 1989, Grupo Planner is one of Spain’s top companies specialized in the promotion and organization of business tradeshows oriented toward industry professionals and the general consumer market. Its leadership team is continuously dedicated to client satisfaction, the highest standards, permanent concern for the continuing education of the company’s employees, and constant innovation with respect to the design and implementation of its tradeshows.

Currently, Grupo Planner organizes tradeshows in Madrid (SIMA07 and Expo Retail), Barcelona (Expo Retail) and the United Status (SIMA USA Showcase), 2006 New Orleans edition.

FSBO Homes Arlington, Texas

FSBO Homes Arlington, Texas




For More Info : FSBO Homes Arlington, Texas
Address :4909 Oldfield Dr Arlington, TX 76016


Beautiful remodeled custom three level Victorian style home.



3350 sq. feet. 2-Living and 2-Dining areas. 2 WBFPs. New Appliances, built-in Intercom, 5 Ceiling Fans, two zone central heat and A/C. ($30,000 in improvements added) Landscaped .25 acre corner lot has mature trees and automatic sprinkler system. Large fenced back yard has new wood Deck. Great Arlington Schools (Little, Young, Martin). About 10 miles from Six Flags, Rangers Stadium and the new Cowboy Stadium.

FSBO Homes Irmo, South Carolina

FSBO Homes Irmo, South Carolina




For More Info : FSBO Homes Irmo, South Carolina
Address :307 Rolling creek Circle Irmo, SC 29063


This beautiful brick home is located in the desirable Rolling Creek subdivision & is

move-in ready! This home has many beautiful features such as wood floors, heavy molding and has plantation shutters throughout the house. The kitchen has a large pantry, ceramic tile floor, granite counter tops & built-in microwave. The dinning room features wainscoting & heavy molding. The family room features wood floors and a fireplace with gas logs. The formal living room can be used as an office. The BONUS room is a great place for family time and has lots of extra storage space. The large master bedroom features a spacious master bath with a jacuzzi tub & separate vanities. Your family will enjoy the oversized private lot, screen porch and deck. The neighborhood is wonderful and has a pool that everyone will enjoy.

Selling on your own? You can really get the word out -- free

Selling on your own? You can really get the word out -- free

For-sale-by-owner types can get listed on a key database, thanks to iggyshouse.com.

Gayle Pollard-Terry | Los Angeles Times
Posted April 8, 2007


LOS ANGELES -- Spreading the word about a home you're selling yourself just got cheaper.

Sellers who go the FSBO (for-sale-by-owner) route can add their houses to Multiple Listing Services in Florida and 19 other states for free via realty broker iggyshouse.com.

There are roughly 900 local and regional Multiple Listing Services in the United States, and the MLS system features the biggest database of homes for sale. But it has long excluded most FSBO homes.

MLS services remain important for sellers because agents routinely depend on them for information, and the database provides listings for online sites, including realtor.com.

Each MLS is privately governed and is not required to accept listings from nonmembers.

"It's not a public utility," says National Association of Realtors spokesman Walter Molony. The result is that sellers who want their properties listed must either agree to pay an agent's commission -- generally 5 percent to 6 percent of the sales price -- or patronize a business that provides an MLS listing for a flat fee or as a part of a package.

IggysHouse Realty Inc. can place listings, according to chief executive Joseph Fox, because this licensed realty brokerage firm is a member of Multiple Listing Services. He expects his approach to reduce the number of sellers who depend on agents.

"They are catering to owners who would like to sell on their own, but we recognize they need help," Molony says.

"Our latest consumer survey of buyers and sellers shows that 83 percent of sellers use full-service brokerages, 9 percent use limited brokerages, including discount services, and 8 percent use minimal services."

But IggysHouse, which expects to be in all 50 states by year's end, Fox says, is the first site to allow sellers to list on an MLS at no charge.

Sites such as redfin.com fall in the middle, offering MLS listings at a discount. Sellers pay $2,000 upfront or $3,000 at closing to list in an MLS in California or Washington, says Redfin's Cynthia Pang.

That compares, for example, with $30,000 -- a 6 percent commission on a $500,000 house, split by agents representing a buyer and a seller. For Redfin's fees, sellers receive a lockbox, signs, fliers and Internet marketing, as well as support in negotiations and closing, Pang says.

IggysHouse is providing the service without charging a fee to consumers.

"How is he going to make any money?" NAR spokesman Molony asks.

Fox says IggysHouse is paying the nominal cost for the MLS listings to drive more business to buysiderealty.com, his company's original real estate presence on the Internet. That site rebates 75 percent of the traditional commission received by an agent representing a buyer if the buyer finds his or her own home and works with the company's salaried agents. The remaining 25 percent of that commission goes into the coffers of the company.

"Sellers are buyers," Fox says, explaining that most homeowners who sell one house purchase another, and he wants those buyers. BuySideRealty's online business is growing, he adds, although he declined to discuss by how much.

He did give some examples. A buyer of a $2 million house in Beverly Hills recently received a $42,000 rebate, Fox says, and another who is in escrow on a $2.3 million house is scheduled to receive $48,000. Nationwide, the average rebate is $11,000.

Like other sites that assist FSBOs, IggysHouse also sells for-sale signs, directional signs and lockboxes. And, although there might be some money to be made in that area, Fox's top goal is generating more attention to his other Internet business offerings.

Many Web sites offer services for homeowners intent on selling their own homes, among them forsalebyowner.com, which is owned by Tribune Co., parent company of the Orlando Sentinel, and charges $399 for a six-month listing on the MLS and the Realtors' site.

National Multi List(http://www.nationalmultilist.com) offers $229 flat fee until sold.

The Los Angeles Times is a Tribune Publishing newspaper.

FSBO Homes SUDBURY, Massachusetts

FSBO Homes SUDBURY, Massachusetts




For More Info : FSBO Homes SUDBURY, Massachusetts
Address :555 Smith Rd SUDBURY, MA 01776


This 4-bedroom, 2-bath Colonial-style home sits on 1-acre of land overlooking a bird sanctuary. It has a 2-car garage, ceiling fans in all 4 bedrooms, an IN-GROUND POOL, NEW cabinets, NEW appliances, NEW lighting, NEW kitchen cabinets, two driveways, HARDWOOD floors and ceramic tiles. There is a LARGE DECK/SIDE PORCH that is 10x24-foot. There is a fireplace in the family room and a golf course and park with playground nearby.

FSBO Homes Orange, California

FSBO Homes Orange, California




For More Info : FSBO Homes Orange, California
Address :. Orange, CA 92869


Contact me directly @ 714/ 686-6606 and save the commision to your benefit. Selling price and terms are negociable. I will concider OWNER FINANCING / SELLER CARRY and/or lease obtion for quick sale. To get these benefits you must contact me directly and not through an agent. Enjoy resort-like living in this exquisite 17,326 sq. ft. 3 level Tropical Paradise with over 400 tropical trees and five waterfalls situated at the end of a private drive. Truly an entertainer's dream offering a tennis, basketball, badminton court and batting Cage. Lagoon pebble-tech pool, two slides, cave bar with waterfall, built in barbeque and fire pit rock formations. Immaculate estate features gourmet kitchen with sub zeros, nook, wine cellar with dining area, home theatre with terrace seating, wet bar, game room with island bar, tanning and massage room, gazebo, dry sauna, over 1000 sq.ft. of professionally equipped gym with its own fire place private shower and bath. 750 sq.ft. of home office and library. Each of the 5 luxurious bedroom suites includes a full private bath with separate shower, tub and cedar-lined walk in closets.

How to find right the real estate agent when selling a house

How to find right the real estate agent when selling a house
Saturday, March 31, 2007

By Holden Lewis, Scripps Howard News Service



In much of the country, house sellers have gone from strutting to sulking. Buyers now have the advantage in a lot of markets, as millions of "for sale" signs rust forlornly in front yards.

For sellers, the cyclical return to a buyer's market means that it's important to choose the right real estate agent. Experts offer some advice:

Weigh the pros and cons of selling it yourself. "You have to be crazy to start out with an agent in a market that's a buyer's market," says Colby Sambrotto, chief operating officer of ForSaleByOwner.com. "It's downright financially irresponsible to start out with a 6 percent agent."

On the other hand, you might decide that you need all the help you can get in selling the house.

"With the market right now, the sellers are much less inclined to go FSBO than they were before," Jim Merrion, regional director of RE/MAX Northern Illinois, says.

Find and interview would-be agents. If you decide to hire an agent, interview at least two candidates. You might want to start out by calling an agent who has been "farming" the neighborhood -- mailing postcards, driving a distinctive vehicle.

"It's a tried-and-true technique, and that's good. The only thing is that just because this agent chose your neighborhood doesn't necessarily mean you should choose that agent," says Elizabeth Razzi, author of "The Fearless Home Buyer" and lately, "The Fearless Home Seller" (Stewart, Tabori & Chang, $16.95)

Another way to find an agent is to go the indirect route. Pam O'Connor, CEO of Leading Real Estate Companies of the World, suggests calling a real estate brokerage and asking for the relocation director, who feeds corporate leads to the broker's agents. Relocation directors "have a lot of good sense of who does a good job and who does not," Ms. O'Connor says.

Assess candidates' knowledge and experience. Mr. Merrion suggests asking job candidates for some hard facts that a good agent should know by heart: the average time on market in the neighborhood and in the metro area, and the average time that agent's houses have been on the market.

Experience is a subjective matter. It's not always about how many properties the agent has sold, but "their ability, willingness and energy," says Phyllis Pezenik, director of sales and leasing for DJK Residential in New York City.

Get a communicator. When interviewing agents, tell them how often you want to be contacted and how -- by e-mail, cell phone, carrier pigeon, whatever.

Ms. Pezenik stresses the importance of hiring someone who is willing to reply to a question with, "I don't know, but I'll be back to you in an hour with an answer."

Define the marketing plan. Ask, "show me the marketing plan for my house," Mr. Merrion says. "What do you have that's different or better than the next agent I'm going to call?"

Let the agent know if you expect an ad in the newspaper every Sunday. Will the agent prepare a brochure? If so, who do the brochures go to?

"Get specifics," Ms. Razzi says. "Show me an example of the kind of brochure you're going to do, the kind of Web page you're going to do, the virtual tour, all of that."

Ask where the listing will go online.

"The answer you want to hear is, 'Everywhere I can put it,' " Ms. Razzi says.

Don't let the listing appear on only the broker's Web site and the local Multiple Listing Service site. Make sure other brokers will be allowed to add the listing to their Web sites.

Many agents contend that they own the listing to your house and that they have the right to restrict the listing from appearing on competing brokers' Web sites. You don't have to hire an agent who subscribes to this notion and you probably shouldn't.

Determine the right asking price. Don't base your choice of an agent on who tells you the house is worth the most, Ms. O'Connor says. "The worst thing you can do is to price your home too high."

How do you know which is the right asking price? An agent who synthesizes a lot of data will make a convincing case.

"I make a map of the neighborhood and list all the other properties that currently are for sale," says Diane Saatchi, senior vice president with The Corcoran Group on Long Island, N.Y.

She lists each house's address and how long it has been on the market. The color-coded map shows which houses have sold in the past six to 12 months, along with sales prices and listing sheets.

"When you look at all that, the right price for a particular property kind of jumps out at you," Ms. Saatchi says.

FSBO Homes Ocala, Florida

FSBO Homes Ocala, Florida




For More Info : FSBO Homes Ocala, Florida
Address :6894 NW 4th Ave Ocala, FL 34475


READY TO MOVE IN ! 1794 Sq Ft 3 Bedroom, 2 Bath Home is on a Corner Lot. Has a larg patio and is located on a 1/4 Acer lot! 1234 Sq Ft Living Area!. This house comes with a Refrigerator, Stove, and Dishwasher. There is Linoleum Flooring in the Bath, Kitchen, and Dining Room. Also has a two car garage! Financing and Morgage assitance available if needed please call!!!

FSBO Homes Denver, Colorado

FSBO Homes Denver, Colorado




For More Info : FSBO Homes Denver, Colorado
Address :1395 View Ridge Rd Denver, CO 80102


A beautiful 3 story home, just look at the pictures, as one enters the foyer the first two levels of this house have walls that are adorned with designer windows that permit the natural daylight to filter throughout the home which highlights the unique features of this property. Such as stunning granite counter tops in the kitchen, Rustic Oak flooring with spectacular varients in shading that occur in oak naturally. Oak book shelves, an abundance of storage in the kitchen, pantry pull out draws. In the master suite there is a jucuzzi tub with marbled sides. Plus, the highest grade DSL commputer wiring . A Cozy 2,020 finished sq.ft. within the house and 1,065 unfinished sq,ft in the basement. An absolute GEM OF A HOME!

A new recreational centre will be completed very soon. Easy acess to Denver & Denver International Airport.

Follow the pictures



Inviting home with amazing views



Rear view of home-mountains beyond



Gracious great room-ready to entertain



Beautiful designer kitchen



Cozy family room with oak surround fire place



Master bedroom with room for 2 sittng areas



His & Hers masterbath with jaccuzzi tub



Guest room-room for 2 singles plus chest and chair

room for 2 singles chest and desk



Office with great view. Room for 2 singles plus chest and chair

room for 2 singles chest and desk



Full walk-out basement- a complete repeat of first floor.

The futures of real estate

The futures of real estate
Wed Apr 4, 2007 10:24AM EDT
By Jonathan Keehner - Analysis



NEW YORK (Reuters) - U.S. brokers and exchanges are close to breaching an impasse that has prevented property derivatives from being widely available here, a step likely to be welcomed by increasingly jittery real estate investors.

While investors in nearly all other major asset classes enjoy the utility of a derivatives market, often to hedge their risk, those in fragmented and opaque U.S. real estate markets largely have not.

But access to real estate indexes is adding U.S. commercial and residential property ownership to the list of items, from companies' debtworthiness to the weather, that investors can speculate on through listed and over-the-counter markets.

Property derivatives are already widespread overseas, where the market for products linked to London-based Investment Property Databank indexes totaled 4.7 billion pounds ($9.2 bln) at year end. IPD's database has over 12,000 properties, or about half of the total property assets of U.K. institutions and listed property companies.

U.S. real estate, with over $270 billion in 2006 transactions according to Jones Lang LaSalle, has lagged behind for reasons including a lack of liquidity and reliable metrics.

"Each piece of property is unique so it's been hard to come up with measures that allow markets to be looked at on a macro basis," said Stephen Berkman of law firm Winston & Strawn LLP. "I think we're finally getting to where the information is being gathered and people trust the results."

In one move aimed at boosting liquidity, Credit Suisse Group (CSGN.VX: Quote, Profile, Research) recently relinquished its exclusive license to structure derivatives based on a property index compiled for nearly 30 years by the National Council of Real Estate Investment Fiduciaries.

The NCREIF Property Index (NPI) is an appraisal-based index measured quarterly, with nearly 5,500 institutional properties and a market value of about $250 billion at year end.

"Two years ago we knew very little about derivatives," said NCREIF Chief Executive Blake Eagle. "We have been on quite a learning curve ever since."

As a result of Credit Suisse's move, Merrill Lynch (MER.N: Quote, Profile, Research) and Goldman Sachs Group (GS.N: Quote, Profile, Research) are now also licensed, along with five other brokers, to structure NPI derivatives allowing investors to bet on whether the index will rise or fall.

"A lot of us are trying to make a bridge between derivatives and the real estate market," said Fritz Siebel of inter-dealer broker Tradition Financial Services. "But the market certainly knows NCREIF."

BROADER SEGMENT

New exchange-listed derivatives, which are standardized and centrally cleared, could also open real estate to investor segments like professional traders and smaller developers.

The Chicago Mercantile Exchange (CME.N: Quote, Profile, Research) last year launched housing derivatives based on the S&P/Case-Shiller Home Price Indexes and announced similar plans for commercial real estate with Global Real Analytics, a firm acquired by discount brokerage Charles Schwab Corp. (SCHW.O: Quote, Profile, Research) in January.

The Chicago Board of Trade (BOT.N: Quote, Profile, Research) has launched futures contracts on the Dow Jones U.S. Real Estate Index (.DJUSRE: Quote, Profile, Research), which consists mostly of real estate investment trusts.

"This goes to a broader segment that may be interested in real estate but lacks access to over-the-counter products, like professional trading shops, pension funds and small or mid-level hedge funds," said CBOT senior vice president Robert Ray.

Developers may look to real estate derivatives that are listed on financial exchanges to hedge projects, said Eric Loth of MA-based Northpoint Realty Development, which focuses on residential properties.

"A listed product with more liquidity, where you could jump in and out of the market, might be better for us as far as pricing models," he said.

Institutions seeking to hedge exposure to real estate stocks could also buy such derivatives, said John Capobianco of Susquehanna International Group, adding that portfolios exposed to homebuilders and REITs have been volatile.

SUBPRIME OPTIONS

An active derivatives market may help lenders reduce their risk to less creditworthy, or subprime, borrowers.

Winston & Strawn's Berkman notes that in commercial lending transactions, borrowers taking out variable rate loans are routinely required to buy derivatives called interest rate caps. These products become more valuable as interest rates rise, limiting a borrower's exposure.

"What if a lender made a loan accompanied by a product that made money if the property value went down, allowing the borrower to repay," Berkman said. "If subprime lenders could have done that they would be in much better shape today."

Mortgage woes are moving up a step

Mortgage woes are moving up a step
Associated Press
NEW YORK - The deterioration of the market for mortgage debt at the bottom of the credit ladder may be climbing up to the next rung.

M&T Bank Corp., a Buffalo, N.Y.-based regional bank, said in a Friday regulatory filing that it is having trouble selling some of its loans.

It's not unusual to hear a subprime mortgage lender -- or a mortgage bank that caters to borrowers with bad credit -- complain that investors don't want to buy its loans. What's unusual is that M&T Bank is not a subprime mortgage lender.

Shares of M&T fell 8.5 percent Monday, the first day of trading since its filing. Shares of its competitors fell sharply as well.

M&T Bank said prices dropped more than anticipated in its recent auction of some of its Alt-A loans, which carry better credit than subprime loans but don't require borrowers to provide as much documentation as prime loans. That puts the credit quality of Alt-A loans somewhere above subprime and shy of prime.

The results of the auction don't bode well for investors who believed the credit problems plaguing subprime mortgages would stay contained in subprime mortgages.

The bank cited fewer investors than expected in the bidding, and said the subprime mortgage market, which this year has been wracked by a spike in payment defaults and falling home prices, appears to be hurting the rest of the mortgage market, the bank said.

FSBO Homes Dodge Center, Minnesota

FSBO Homes Dodge Center, Minnesota




For More Info : FSBO Homes Dodge Center, Minnesota
Address :62867 185th Avenue Dodge Center, MN 55927


Location, Location, this all cedar log home is located in the country, but is withing walking distance from school. The home is situated on an all wooded acreage with it's own backyard pond and above ground heated pool nearly surrrounded by a cedar deck. The home has cedar shake shingles, flagstone deck floor on the 19' x 12' deck off of kitchen area. This deck has a storage room below it for all the pool toys and deck furniture with a flagstone patio off the lower level. The total pool deck consists of a 16' x 28'; 22' x 12', and 23' x 5', nearly surrounding the 28' round above ground pool. The interior of the home has numberous storage areas, above the closets and in the huge furnace room. The master bedroom is 16' x 15' with a master dressing room and bath. The guest bedroom is 12' x 12' with double closet. The guest bath has shower and tub. The newly re-done 25' x 16' kitchen/dining has black granite counter tops with painted metal cupboards and all stainless steel appliances, plus a trash compacter. The pantry off the kitchen is 16' x 5' with cupboards from floor to ceiling, plus closet, also has granite countertop. This pantry then leads into the 2.5 stall garage, with built in storage cabinets on one whole wall. Stone archways lead into the living room which has a log fireplace. The lower level 33' x 32' family room has a floor to ceiling stone gas fireplace, wet bar and bar refrigerator. Off the family room, is a large 15' x 10' laundry room with built in cupboard storage. The washer and dryer stay with the home. The utility room is very large with tons of storage area, 22' x 15' plus freezer area of 15' x 10'. All the rooms are carpeted except for the bathrooms, laundry room, utility room and 19' x 7' entry. The entrance to the home is tiled. The home has 2 furnaces, 2 water heaters and 2 central air conditioner units. This home has separate heating for upper and lower levels as well as separate cooling units. This home is heated by natural gas, has cable television hookup and has it's own well and septic system. Take your golf cart and drive to the 18 hole golf course just down the road. Walk to the highschool/elementary school ballgames, down the street. Within walking distance from Dodge Center. Secluded in the country but within walking distance to buy an icecream cone or get a pizza. This home is located 20 miles west of the Mayo Clinic and IBM in Rochester, Mn, all accessible on a new 4 lane highway. It is located 80 miles South of Minneapolis, Mn. The home will be shown BY APPOINTMENT ONLY.

Subprime Mortgage Woes Harm Calif., Nat'l Economy

Subprime Mortgage Woes Harm Calif., Nat'l Economy
(AP) LOS ANGELES The subprime mortgage implosion will take even more steam out of the already slowing real estate market this year and beyond, according to a new economic report.

More than two dozen subprime lenders have shut down in recent months and others are scrambling to stay in business as a spike in defaults caused by borrowers unable to make payments has rocked the mortgage industry.

Now, as lenders tighten credit standards, the housing market will likely see further declines in price and output, senior economist David Shulman wrote in the quarterly Anderson Report released Monday by the University of California, Los Angeles.

밯e suspect the problem in the subprime area is just the tip of the iceberg for the mortgage market as a whole,?Shulman wrote. 밊or all practical purposes, the subprime market is in the process of shutting down.?br />
A tougher credit environment will limit the number of first-time home buyers entering the market and make it tougher for others to refinance their subprime loans before they face a default or foreclosure.

Shulman expects housing starts to hit 1.33 million units this year, down from a previous forecast of 1.48 million units.

밊or a housing market that has already witnessed housing starts decline by 36 percent, this is not good news,?he wrote.

Still, he does not forecast a recession but only a softening of the economy.

He expects growth in the nation뭩 gross domestic product to range from 1.7 percent to 2.5 percent through the first nine months of the year, and to average 3.25 percent next year.

The nation뭩 unemployment rate will tick up from February뭩 4.5 percent to 5 percent by the third quarter before beginning a gradual decline, Shulman wrote.

Home sales in California will also take a hit from the subprime mortgage woes, economist Ryan Ratcliff forecast in his outlook for the state.

"Since the subprime market was almost the only thing keeping sales volumes buoyant in the last years of the boom, the drying up of subprime credit suggests that home sales in California will be stagnant for some time to come," Ratcliff wrote.

Meanwhile, recent employment data from the state suggests California has so far weathered the real estate slowdown better than expected.

Last year, California added 52,000 jobs, up 1.8 percent over the prior-year period.

Still, Ratcliff forecasts the state's economy to slow significantly this year, as the woes in the construction and mortgage finance sectors drag on the economy.

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Mortgage bankers group cuts ties with subprime lenders

Mortgage bankers group cuts ties with subprime lenders


BOSTON The Massachusetts Mortgage Bankers Association has removed three subprime lenders from its membership rolls.

The Boston Herald reports the organization cut ties with Fremont General, New Century Financial and the Mortgage Lenders Network of Connecticut.

The moves come a year after the state mortgage bankers' group also cut ties with Ameriquest, another provider of high-interest loans to people with poor credit.

Subprime lenders have come under financial pressure recently amid growing numbers of defaults and foreclosures involving high-interest mortgages. Federal and state lawmakers are considering legislation to more closely regulate the industry.