From now until the end of April in Salt Lake County, there will be more offers written on homes for sale then there will be in all of 2010. Good news for home seller Right? We’ll maybe if you keep your guard up. I have to say the 2010 Home Bing Tax Credit expiring [...]
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In pricing your home to sell it should have no relationship to what you own what you need to buy another home with 20% down. It never ceases to amaze me when a seller says I need this much that why I priced it at x. Buyers don’t care about what you need! Buyers [...]
Allow me to give you some credential, I was the nation Real Estate Broker working for ForSaleByOwner.com from May 2005 to May2008. I listed dozens of flat fee listing a month for most of the Watch Front and consulted with national listing agent and customer support problems. Created new programs for ForeSaleByOwner.com to market to seller and buyers and yes sold real estate. For you people keeping score that was during the boom of the real estate flipping era. So I know a little about the For Sale By Owner way of selling. I’ll be honest you can sell your home as a FSBO. In today’s buyers market it harder. It not easy because buyers are looking for the great deals of bank owned and short sales they want a great deal and those two category of homes are being show by Realtor’s only. So buyer tend to become clients of Realtors and end up seeing only listed homes not FSBO homes. I’m sorry that is the nature of the market right now. If it becomes a seller’s market again FSBO will be very effective again. I don’t see that happening anytime soon. Even if they don’t buy a short sale or bank owned home they buy a listed home. So how do you get listed without paying 6%? Now that’s a really great question! Continue reading Selling Your Home For Sale By Owner in Salt Lake County |
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203 K loans are the FHA loans that allow you to buy a home that is a fixer upper. The newly developed FHA 203 K Streamlined loan allows you to buy a home that is run down that wouldn’t qualify for FHA financing. As loan as there is no structural repairs needed. The list of allowable repairs is below. Buying with the FHA 203 K Streamlined loan is easy all you need to obtain contractors bids and submit them to your lender. This can be done at the time of inspection or maybe week of the inspection. Sure it more work but the get a home at a great buy and the money to fix it up at only 3.5% down payment, you’ll have to do a little more. It a great loan because it gives the buyer the ability to buy a Short sales, bank owned or just undervalued property that the seller won’t do FHA repair and have the home the way you want after closing with little of your buyers money . They can get up to $35,000 in repair, winterizing, greening up the home, put in new windows and R50 insulation in the attack, upgrade the electrical, making it just the way your client wants, and they just have to pay the 3.5% down on that portion and the rest in put in the loan. You can do allowable repairs up to $35,000 with no minimum; so if you just need $3,000 for carpet you can burrow that above the purchase price. If you need a new furnace and upgrade to the electrical system that’s Ok you just need to get bids form licensed contractor that meet requirement to do the work. Can you do the work yourself? Yes and no; you can do the work if you have the expertise and can prove it or if it is unskilled work like painting. 
I thought I would write a blog to help all the For Sale By Owner selling in Salt Lake. Selling For Sale By Owner or FSBO is something I know a lot about. Ok, I know some of you are rolling your eyes saying this is where the Realtor is going to tell us we have to list to sell because 80% of homes are sold by Realtor’s etc. Maybe and maybe not; it all depends on the market conditions at the current time.
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