Silver Creek Valley Homes For Sale | Selling Your House on Your Own Could Cost You
There's is an abundance of open space, hiking trails, great schools and charm. Locals know that Silver Creek is a great place to raise a family.
While some people may say that the area is energized by new growth and rapid changes, Silver Creek value comes from its welcoming warm atmosphere, where neighbors participate enjoying various spectacular amenities enjoying a great convenient location.
All great neighborhoods have this in common. Pride in ownership is obvious when the residents, whether renters or owners, maintain their homes and care about their neighborhood. Neighbors participate to connect and create local groups that bring the residents together for the betterment of the area.
Connect with the past, present and future in Silver Creek Valley, one of the most charming neighborhood you'll find in the San Jose area.
Every home buyer has a wish when looking for a home, while not all of them are granted, the ‘feel good magic’ happens when they start seeing homes around neighborhoods of this beautiful valley.
Is the people what makes this place a little different from others, It's a great place to live.
Neighbors welcome you with open arms and share indiscriminately the beauty and charm that Silver Creek has to offer.
Today I would like to point out specifically about Selling Your House on Your Own Could Cost You
In this extremely hot real estate market, some homeowners might consider selling their homes on their own which is known as a For Sale by Owner (FSBO). They rationalize that they don’t need a real estate agent and believe that they can save the fee for the services a real estate agent offers.
However, a study by Collateral Analytics reveals that FSBOs don’t actually save anything, and in some cases may be costing themselves more, by not listing with an agent.
In the study, they analyzed home sales in a variety of markets. The data showed that:
“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.” (emphasis added)
Why would FSBOs net less money than if they had used an agent?
The study makes several suggestions:
*“There could be systematic bias on the buyer side as well. FSBO sales might attract more strategic buyers than MLS sales, particularly buyers who rationalize lower-priced bids with the logic that the seller is “saving” a traditional commission. Such buyers might specifically search for and target sellers who are not getting representational assistance from agents.” In other words, ‘bargain lookers’ might shop FSBOs more often.
* “Experienced agents are experts at ‘staging’ homes for sale” which could bring more money for the home.
* “Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.” If more buyers see a home, the greater the chances are that there could be a bidding war for the property.
Conclusions from the study:
1.- FSBOs achieve prices significantly lower than those from similar properties sold by Realtors using the MLS.
2.- The data suggests the average price was near 6% lower for FSBO sales of similar properties.
As Dave Ramsey, America's trusted voice on money, explains:
“Research has shown that, between mistakes, lack of negotiating skills, pricing errors and general exposure on the market, you'll cost yourself more than the real estate commission…You'll come out slightly better and with a lot less hassle if you use a top-shelf agent.”
“All agents are NOT alike, We are Different … and We Want To Earn Your Business and Trust”
“The real estate market is constantly changing. I would like the opportunity to show you some of the new ways in which you are able to buy, sell and search for new homes”.
We continually invest in the latest technology to give you the most up to date information on homes for sale and the most exposure for your property when selling.
Give us a call at 408–741–9300 before buying or selling your next home.
Don Orason, Owner — Silicon Valley Real Estate Team