In the November issue of Homes & Land of Greater San Antonio, we have provided some interesting statistics (Market Pulse p.41) about for sale by owner properties (FSBO). In 1997, FSBO properties made up approximately 18% of all home sales. At that time, it was predicted that over the next 10 years the number of FSBO sales would grow to about 40% of all properties sold. Knowing what I know about the real estate transaction, it does not surprise me that the number of FSBO sales has actually decreased during this 10 year period. Pure FSBO sales, in which the seller did not know the buyer, represent a historically low 7% of all home sales.
This statistic underscores the success of using a REALTOR. These professionals understand the market and have the knowledge to properly position a home for sale. Even with all today's new technology, FSBO properties still have to face difficult home selling tasks such as properly pricing the home, handling of necessary contracts, negotiating with buyers and most importantly, marketing the home for sale. As you might expect, all of these tasks take time and money, and this is why the use of a REALTOR continues to increase every year. If fact, it is not home sellers that have benefited from all of today's new technology, it is home buyers. Today's home buyers, and their agents, are smarter and better prepared than ever. This is why more and more sellers leave it to a professional.
If your home is currently on the market or if you are thinking of selling your home, don't be discouraged by the upcoming Holiday season. Homes still sell during the Holidays. In San Antonio's summer months, anywhere from 13 - 16% of current inventory is sold each month. Looking back at December 2007 and December 2008, the percentage of inventory sold in each month was 13.2 % and 10.5%, respectively. In terms of inventory sold, this is only a few percentage points off from what is considered the more active time of the year. It's also worth mentioning that if someone is looking at homes during the Holidays, they are serious about buying!
Homes & Land extends our wishes for a Happy Thanksgiving to all.
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