New ISoldMyHouse.Com Report Reveals States with Strongest FSBO Markets
Boston, MA 6/06/2012 07:51 AM GMT (TransWorldNews)
For Sale By Owner (FSBO) marketplace ISoldMyHouse.com recently published a new report listing the five states best for homeowners who choose to sell on their own, rather than listing with an agent. Colorado, Virginia, Florida, Texas, and Oklahoma are top states for FSBO sellers due to factors such as population growth, strong employment markets, and lower numbers of distressed properties such as foreclosures and short sales.
The report can be found here: http://www.isoldmyhouse.com/fsbo/best-states.cfm
With the housing market still struggling to overcome the effects of the housing bubble that burst in 2008, many homeowners have concluded that the key to selling their home is offering a more competitive price, by cutting out seller's agent commissions. Around 10% of home sales are now sold by FSBO sellers, and those numbers are expected to increase as individuals gain greater access to marketing tools like flat-fee listings in Multiple Listing Service (MLS) databases.
Owen Gilman, President of ISoldMyHouse.com, says there were some surprises in the list of states favorable to FSBO sellers beyond the five listed above. "North Dakota, South Dakota, Iowa, and Nebraska are other states that are more favorable to sellers than one might think. In these states, rebounding sales levels, strong economies, and improving employment prospects have made for a brighter outlook for people who want to sell their homes." Montana, Wyoming, and Alaska also showed signs of emerging from the housing slump sooner than other states.
A few cities around the country offer particularly favorable markets for sellers. Minneapolis-St. Paul, with its strong medical and tech sectors; Salt Lake City, with a strong tech and manufacturing base; and the Kennewick-Richland-Pasco region of Washington state with its energy research emphasis, are a few of the U.S. cities where the housing market is showing strength.
"The tools available for FSBO sellers to list and market their home are better than ever, and more homeowners realize that with the effort they would have to put in even when listing with a real estate agent, they might as well go the extra step, create a solid marketing strategy and avoid seller commissions," says Gilman. According to Gilman, many FSBO sellers use commission savings to offer a more competitive price on their house and sell more quickly.
ISoldMyHouse.com is a leading For Sale By Owner marketplace in the United States. Founded in 1997, the site offers a full range of services for both buyers and sellers to facilitate the sale of houses for sale by owners. Visit us on the Web at: http://isoldmyhouse.com/
171 Locke Drive, Suite 102
Marlborough, MA 01752