Dallas FSBO: Wait, Why Would Anyone FSBO In This Market?
FSBO — known in the trade as For Sale By Owner. It’s when homeowners sell without a broker. The homeowner markets the home and thus saves the 6% commission fee split, 3% to the selling broker, 3% to the buyer’s broker. Many times, FSBO’s will offer 3% to an agent who brings in a buyer. This home is at 11423 Crest Brook in North Dallas, gorgeous street. Two new homes are going up down the block, a pretty stone two-story is next door. Seller says it was appraised last year (a different world) for $530,000 (one appraisal) and $570,000 (second). Seller would be happy to clear at least $475,000, not giving it away. (Here’s another similar listing on Royal Crest, $435,000.) So why, I think, do we even have it on the market? Why not lease it? Seller said this is obviously not a good time to sell a home. But if you are buying, it actually may be the perfect time, because it all balances out. That is, you will not get top dollar for your home but neither will the person selling the home you buy. If you are buying up, you’ll actually save more since this is a buyer’s market. And there are more eager buyers looking for that $8000 first-time buyer’s tax credit. So go ahead, move up.
But what if you are selling an estate property – - this home is pristine 1955, 2800 ish square feet, has not been touched or remodeled. Should you cut your losses and re-invest in — what – -the stock market?
Note to self: do not die in a recession, because heirs will not reap top dollar from the estate.
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