     No matter what we read about the real estate market, there are still people who want to buy homes to live in.  There are always buyers and sellers, even in down markets. Naturally this is a challenging time to be selling a home, but it’s a wonderful opportunity for a potential buyer. I think it’s worth remembering that… there are buyers out there! The Street.com talks about opportunity for buyers in How to Get an Even Better Deal on a Home.  Their main idea? Buying a FSBO, or For Sale By Owner house. It’s an idea that works, both for the seller and buyer. But it’s not always easy… especially for the seller! I’ve bought and sold by owner, and would consider it again. But as a buyer, I would definitely use a real estate agent as a “buyer’s agent” during the process. And you really need to make sure “why” you’re buying the house. Hopefully by now, most potential homebuyers are under no illusions about their home as a potential investment. It may very well be a good investment many years from now…  but don’t be surprised if it’s value doesn’t go anywhere for a long, long time.  I’ve written about my experience with that process before! But what a great opportunity buyers have if they do know what they’re looking for right now.
     If you’re selling your home, know that going the FSBO route takes enormous patience and dedication, but can also be very satisfying if you’re a “do-it-yourself” type… and you succeed. While your waiting, showing and being patient, it isn’t very satisfying at all! Unless of course you have plenty of time and don’t mind keeping your home “show-ready” for months on end. But it can save a lot of money if all goes as planned. In the current market climate however, I’m not sure I would go the FSBO route unless very confident about the process and the home I was trying to sell, especially as compared to the “competition” around the local area.  Â
     If you do decide on the FSBO approach, the article above alludes to several strategies and helpful interent companies such as ForSaleByOwner.com. I’ve used them successfully, but I think the single most important factor was being able to get the house listed in the MLS (Multiple Listing Service). So even though I managed and sold the home as a FSBO, it was listed on the MLS for agents to see.Â
 Three Northwestern University professors who wrote an August study about the FSBO market say that MLS-listed homes do not necessarily deliver a higher price, but do offer a higher probability of a quick sale, within 60 or 90 days. In addition, roughly 20% of FSBO listings end up relisting in the MLS, which translates into a longer time on the market. Thus, one of the advantages of MLS is a shorter time to sale, which translates into savings (on mortgage, taxes and insurance).
     Of course some people would do almost anything to sell their home right now.  That’s where buyers have the real advantage today, and the single greatest factor, as always, is price. I’ve talked before about the things you can do as a seller to present your home. It’s absolutely essential right now.
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