FSBO Running Out of Cardboard Signs?

Elgin Fox Valley, IL –You might need more than a cardboard sign and a Sharpie marker when trying to sell your (probably) biggest asset!

FSBO reduced1a

 If this is your marketing plan to sell your home, please let me know!   I recently stopped by this nice couple’s property and found an old water heater standing in front of the the signs, too.    I’m not sure if that was included in the deal or not.

DSC_2978

And the details were a bit confusing on # of garages on the third sign:
FSBOdetails1a
I noted that the price listed on the sign ($295K) seemed high for the area, because as a licensed Realtor, I am familiar with this area and similar properties.  However, once the homeowners realized no one was stopping by (except for those pesky investor types), they did lower their price to $260K.  I expect an “Or Best Offer” probably in the next month when the frustration level rises again.
Now, I would love to give these nice folks a current CMA (comparative market analysis) and let them know what homes are currently selling for.  At $260K, for a 1700 square foot home 3bd/2bth that is not updated, in good condition, they are overpriced by nearly $46 a square foot!  And I should probably mention that location in real estate is very important, so the train tracks running directly behind the home are not adding to the home’s value.  I would also point out that while 1.25 acres is a very large lot,  the separate shed/garage is nice but probably not worth the full $60K it cost to build.
Unfortunately, none of these points will be made to this seller as they are convinced they can sell it on their own for a much higher price.   Why pay a huge Realtor commission of 6% when you could lower the price yourself by 12% from $295K to $260K?
Perhaps this will be the next sign we will see in their yard:
owner croaking
Are you a FSBO owner in need of a CMA?  Wondering what your home value is currently? The folks above used Zillow and you can see how accurate was it for them.  Come on and give an agent a call, at least use us for our data accuracy!
Jennifer@ElginFoxValley.com
630-854-4360
Try my new mobile app to search for homes on your tablet or device-Midwest Homes:  http://t.ikenex.com/?k=n0t
(Note: Use 240766 for agent ID to log in.)
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