Rochester NY 2011 Real Estate Statistics

Rochester NY MSA 2011 Statistics. Continue reading

Exactly what you shouldn’t post

Let’s face it not all Sell by Owners are Advertising Executives, but some of the things that get posted on Craig’s List really outrageous!

How about this one for starters….

IMPORTANT: If you respond to this ad requesting more information, please give me some details about who you are, where you live, and what your specific housing interests are. There are simply too many spammers on Craiglist for me to reply to everyone who sends me a response like, “Could you send me some more pictures.”

Isn’t this a little odd?  An “Important” notice to buyers with requirements?  Really?  This certainly wouldn’t sit well with me if I were hunting for a home.

No phone number, No Name to call or email and No Address for the property.  Not sure we get it.

Open House Saftey

Anytime you invite strangers into your home there is a potential for crime.  You have to be smart about it!

Just this past week an agent and a client were robbed during an open house in L.A., no one was hurt but it can happen anywhere to anyone.   We don’t hear much on this in Rochester, NY but not to say it can’t happen.

For Sale By Owners have to be diligent when doing open houses, be smart!  This article discusses some safety tips to review before opening up.  Take a look.

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FSBO Home sellers in Nashville TN go hi-tech

For Sale by Owner in Nashville Tennessee-Just got better

Don Martin of Martin Properties is the latest broker to partner up with List2Move.com in Nashville Tennessee.  Don has been practicing real estate for 26 years and claims to be the first broker in Nashville Tennessee to help out the For Sale by Owners in Nashville.

Don’s stats for 2011….

Our 2011 figures so far (Oct)
Avg list price $323,138
Avg sale price $306,377
Avg % – 95% of list price
Avg Days on Market 180
Median Days on Market 141
Avg saving minimum $8792.31 – max $17,983.62
(Courtesy Middle Tn Multiple Listing Service)

List2Move allows homeowners to enter the exact data required for their local broker’s MLS online, upload their own photos, electronically sign listing agreements and disclosures, and submit payment directly to the broker. All of this can be done from the comfort of their own home. The broker then simply takes the data and inputs it into the MLS. List2Move eliminates the need to send faxes, drive to listing appointments, wait for payments, and struggle with broker website issues.

For Sale by Owner (FSBO) in Rochester NY

Rochester NY’s FLAT FEE, FSBO Leader

 

You have heard about “Location, Location, Location” in real estate but when you are selling your homes by owner you have to think about INFRASTRUCTURE, INFRASTRUCTURE, INFRASTRUCTURE!  Why? Because if you hitch your wagon to the wrong star you run the risk of leaving lots of money on the table.  

 

List2Move (formerly called FlatFeeRochester.com) was started right here in Rochester NY almost 7 years ago with the idea that if you give the sellers the RIGHT tools (the same ones the agents and brokers use) and a little coaching along the way, that they would be able to successfully sell their own real estate.  Well Rochester, it is working really well!  We can tell you with confidence that by listing with List2Move.com you have a 42% better chance of not paying any co-brokers commission at all. (And much better service and better signs than anyone in or out of town!)  We have saved our homeowners (our neighbors) over a $1,000,000 (million)  in commissions!

 

That being said, it is also true if you go with the cheapest service out there you are going to get some real cheesy looking signs, and little if any infrastructure which makes a big deal if you are really trying to save the most money.  So if you want to save the most money, have the least amount of problems and sell quick there is still only one real contender, the market leader….List2Move.com

 

 

 


Homeowner sues MLS and Wins!

Consumers awarded $2.4 million in anti-trust lawsuit against MLS and Brokers

Tara Steele | 2011/11/07  | 27 Comments

Logue vs. Pennsylvania real estate players

Pennsylvania homeowner Thomas Logue filed a class action lawsuit in April 2010, alleging that a group of real estate brokerages and a local MLS (and its board of directors) conspired to keep broker commissions artificially high by limiting competition among companies, according to court documents. The area real estate companies stifled competition by keeping some rival businesses from effectively marketing properties, blocking discount brokers from listing in the MLS, alleges the suit, which Logue’s attorneys say caused him to pay more than was necessary to list his home in 2006.

This summer, a motion for preliminary approval of a settlement in the case was approved by the judge after denying a motion to dismiss by the defendants, laying the ground for this week’s approval of a settlement in the amount of $2.4 million, of which Logue’s attorneys will receive $1 million and Logue will receive $10,000. Court documents do not reveal the number of buyers that will split the remaining $1.39 million.

Logue filed the lawsuit against West Penn Multilist Inc., Howard Hanna Real Estate, Coldwell Banker Real Estate, Freeman Realty, Northwood Realty and Prudential Preferred Realty regarding purchases through these companies between February 13, 2005 and February 13, 2009.

Anti-trust laws were established in the 1800s to protect consumers from cartels and monopolies, which this case showed was in play on the Pennsylvania real estate scene. MLS companies have long struggled with business rules that dictate what is legitimate and what is not, and in this case, the judge agreed to this $2.4 million settlement alleging the brokerages and the MLS, along with their board of directors blocked discount brokerages.

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This article published on Monday, November 7th, 2011 at 12:20 am | Contact the editor Keywords: , ,

Topics: News, Public Relations

About this Columnist (Full Profile)

Tara Steele is the News Director at AgentGenius, covering real estate news, technology news and everything in between. If you’d like to reach Tara with a question, comment, press release or hot news tip, she frequently checks her email, simply click the link below.

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For Sale by Owner in Hilton Head and Beaufort, SC

Are you selling your home by owner in Hilton Head or in Beaufort South Carolina?  Great news!  List2Move.com is now working with FSBO’s (For Sale by Owners)  in both areas.  Now you can work with a broker who knows who is local vs. someone in New Jersey!

 

Here are the links….

List2Move.com Hilton Head, SC

List2Move.com Beaufort, SC

 

Listing your home is as easy as logging in and listing your property.  The last thing you do is pay on the List2Move sites, so go ahead and get started selling your home.

For Sale By Owner in Roanoke Virginia

This week List2Move opened it’s doors in Roanoke Virginia.  The packages offered are some of the most competitive packages we have seen in the United States.

If you are selling your home by owner (For Sale By Owner) you would be crazy not to talk with the friendly people at Homestead Realty.  Better yet you can just log in and list your home, because the last thing you are going to do is pay!  Getting started is simple- and if you have any questions just call (540) 904-4069 .

Remember these people at Homestead Realty are local!  They are your neighbors who wanted to bring to you the best infrastructure to beat the commissions!

 

List2Move was started 6 years ago in Rochester, NY with the belief that if you gave For Sale By Owners the same tools used by real estate agents and brokers, they could effectively sell their own homes.  The concept is working and sellers are saving thousands of dollars!

To see if there is an exclusive List2Move affiliate in your area just go to List2Move.com.  Realtors interested in bringing List2Move.com to your city please go to Flat Fee Central.

Don’t Confuse a Repair with an Improvement

We get these questions all the time.  Should I replace windows, roofs, garage doors etc… My response is usually, “if it is not broken, don’t rebuild the house!”  For Sale by Owners should always use common sense!  If the window is broken you can replace the glass but you don’t have to replace the fixture.

 

From Investopedia.com.

Unfortunately, not all home expenses are treated equally for the purpose of determining your home’s basis [for tax purposes]. The IRS considers repairs to be part and parcel of home ownership –something that preserves the home’s original value but does not enhance its value. This may not always seem true. For example, if you bought a foreclosure and had to fix a lot of broken stuff, the home is obviously worth more after you fix those items, but the IRS doesn’t care — you did get a discount on the purchase price because of those unmade repairs, after all. It’s only improvements, like replacing the roof or adding central air conditioning, which will help decrease your future tax bill when you sell your home. For gray areas (like remodeling your bathroom because you had to bust open the wall to repair some old, failed plumbing), consult IRS Publication 530 and/or your accountant.

Infra-Structure Matters

When you are looking at flat fee brokers do yourself a big favor, check out their websites…Do they look like a fly by night or do they look like they are entrenched.  You will know the difference in a New York second.

Look for things like photos, owner’s phone numbers, enhancements, open house flags.  Do they offer featured listings, mortgage calculators, maps etc.

If you think that all flat fee brokers are the same think again!  There are those brokers that are me too brokers and there are brokers that are the leaders in their market.  Stay away from national companies that can’t tell you who the local guy is.  These companies farm your listing to the lowest bidder, and you are smarter than that, it will be a bad experience because neither care about your experience.

Line up yourself up for the best For Sale by Owner experience and find your self a broker who is entrenched.  List2Move prides itself in it’s infrastructure.  Go with the Flat Fee FSBO leader in Rochester NY.  List2Move.com