How did our customers sell their homes?

Have a house that you sold on ForSaleByOwner.com? We'd like to hear from you and ask that you post a comment here to share your success story and "top tips" so that others may learn from your experience. What were the reasons why your home sold? Did not having to pay a commission allow to you price your home more competitively that similar homes on the market?

Have a question about the real estate process?

One our top priorities is educating people on the real estate process, so that home sellers and buyers can have a growing confidence in handling a real estate transaction without using an agent.

We invite you to post a comment here to ask a question about the real estate process, or how to best use ForSaleByOwner.com products and services. We'll respond with our thoughts -- and others are free to post as well -- to help you learn more about going "for sale by owner."

More Reasons to Go ForSaleByOwner.com

Two recent housing reports on declining home prices across the United States and in 20 key markets can’t be good news for real estate agents. In February 2008, the median home price dropped 8.2 percent from a year earlier, which is the largest decrease on record. When you factor in that it costs 6% of your home’s value to sell via a Realtor – and another 1.5% in closing costs – the typical U.S. home seller will be losing more than 15% of their home’s value if they sell through an agent.

The primary reason why people come to ForSaleByOwner.com (http://www.forsalebyowner.com) is to save money during the home selling process. While we can’t stop home prices from falling – or going up ☺ -we can help sellers avoid losing another 6% of their home’s value. Our listings went up by nearly 10% last year, largely because more people are learning that they can sell and buy homes without using an agent.

Honest Home Appraisals

We, along with throngs of real estate consumers, have always been skeptical of the home appraisal process. After all, appraisers were pressured by real estate agents and mortgage lenders to over-value a home so that it would conform to an inflated listing price. If the appraisal came in at a lower amount, the real estate transaction would fall through, and that appraiser would never be asked to give a valuation in the future. So let's just say that the real estate agent and mortgage company held some power over the appraiser giving his/her honest valuation. Click here to learn how to get an accurate home pricing report

The New York Attorney General, Andrew Cuomo (who, by the way, was elected to this office when disgraced Eliot Spitzer was elected Governor), has announced an agreement in which Fannie Mae and Freddie Mac will only buy mortgages backed by independent appraisers. While such a logical step is long-overdue, it should help to prevent dramatic & unrealistic price increases in the future.

Home of the Week

Overlooking the Atlantic Ocean, this 3 bedroom condo on Singer Island, Fla., features its own private elevator, a gourmet kitchen and a 180 degree balcony.

CNBC Reports on ForSaleByOwner.com

As the leading "for sale by owner" real estate company, we're consistently called on by the media to provide our perspective on the real estate market. We've been working with CNBC on a feature story they decided to run on how people can save money by selling their home themselves. They interviewed one of our customers who, probably like you, once wondered if he could sell his home without an agent. Read what he had to say in the CNBC article and how he saved $30,000 using our services!

Got Mortgage?

So you're thinking of buying that home you found on ForSaleByOwner.com. But, like most Americans, you've seen the headlines about mortgages and have questions about whether it's easier or more difficult to get a mortgage. As this CNBC news item reports, there's still three main ingredients to getting a mortgage. You need:

- Good credit
- Proof of income
- Money for a down payment

A reputable mortgage broker will give you solid advice on what you can and cannot afford. For more mortgage information, read this informative article.

Improved Search Functionality

ForSaleByOwner.com has been working hard to improve the home search experience for buyers. The new search functionality - now in Beta test form - has more photos, more information and cool interactive mapping to give buyers more details about a home. This is great news for sellers as well, because our initial testing has found that these enhancements are driving more leads and inquiries from interested buyers!

Check out these new features by going to our home page and browse for homes.