Tuesday, February 25, 2014

Top 10 U.S. Real Estate Markets for FSBO Home Sales

The gradual housing market recovery has been a bright spot for the rebounding economy, and 2014 is shaping up to be a largely optimistic time to sell a home. Thanks to rising house prices, continued lower-than-average mortgage rates and increased numbers of people looking to buy across the country, motivated home sellers will find favorable conditions this year.

With that optimistic outlook, ForSaleByOwner.com has compiled a list of the top 10 cities in the U.S. for by-owner home sales. We've conducted research across the country to determine the top cities for potential "for sale by owner" home sales. Our criteria included the size of the buyer population in each city, the number of homeowners and the average number of days houses spent on the market.

And, now, drum roll please ... we introduce our top 10 list of the best U.S. real estate markets for FSBO home sales in 2014 (in alphabetical order):


Be sure to check back as we regularly update this ongoing series.

Feeling inspired to enter the housing market this year? Check out the FSBO homes for sale currently listed on ForSaleByOwner.com.


3 comments:

Philip Hogan said...

Hi Wendy,

Great post. Hopefully a few of the markets reach that proverbial tipping point. Then perhaps we'll see FSBO gain even more traction.

Separate and aside, I was curious where you guys got this data. Is it publicly available? Or did you guys commission a study of some sort? Either way, I'd love to take a look at the data if it were at all possible.

If it's easier to follow-up offline, please feel free to email me at philip.m.hogan@gmail.com.

Thanks, Wendy.

Phil Hogan

Tim Thornton, Greater Austin Area Realtor® ZipRealty, inc. said...

FSBO is only a good deal for the seller if (1) you can get as good a price as a professional selling your home would get for your home (2) you can sell it as fast as it would sell when represented by an experienced Realtor (3) you have nothing else to do with your time (4) you don't make any mistakes in the contracting process that come back to haunt you in years to come because you don't do this professionally 365 days a year like many Realtors do.

I tried to sell a home FSBO in Houston many years ago and I paid more than $500 to a broker to put my listing on the MLS, put out signs every weekend for my 2 year old townhouse near downtown (Washington Street area) and after many months of suffering through Open Houses every weekend, I turned it over to a Realtor who sold my home in about a month. Big difference.

The FSBO pitch sounded great and cost me a lot of time and money. It's like Saturday morning Flip shows. They don't tell you that most flippers lose money and never try it again. And you only hear about the few guys that are doing it and reportedly making tons of money. You will never hear the stats of all the houses that list FSBO and never sell or sell for less than market value or have legal issues because they did not know what they were doing. It is not a part of the pitch.

Good luck.

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