Yesterday, I discussed a 4th Tip on How to Avoid Foreclosure on your Raleigh, NC Home. Today, I will give three more but first, just to review, here are the first 4 tips on how to avoid foreclosure on your Raleigh, NC home:

1. Don’t ignore the issue
2. As soon as you have a problem paying, give your lender a call..
3. Respond to all mail from your lender.
4. Know Your Rights.

The next tip is to prioritize your spending. Your top priority after your health care should be to keep your home. You may want to consider paying your mortgage payment before paying any other debts.

Number six, don’t be taken in by mortgage scammers. You may run across someone claiming to be able to prevent foreclosure. Don’t sign any document of any kind from them! You should not have to pay large fees  to get assistance avoiding foreclosure on your Raleigh, NC home.

Number seven, contact FHA for help.
Here are some helpful links to contact FHA and to get additional help to avoid foreclosure on your Raleigh, NC Home:

http://www.fha.gov/foreclosure/index.cfm    This page is excellent and it was a major source for these recent Raleigh Residential Real Estate blogs. 
HUD-approved housing counseling agencies – this link will allow you to search by state.
 
For consumer debt advice, contact http://www.debtadvice.org/

As always, if the Poling Team can help in any way, don’t hesitate to contact us. We’re also happy to give you a free no obligation market analysis of what your home is currently worth, just click here: What’s My Home’s Value?
 

Yesterday I discussed 3 Tips on How to Avoid Foreclosure on your Raleigh, NC Home
1. Don’t ignore the issue
2. As soon as you have a problem paying, give your lender a call..
3. Respond to all mail from your lender.

The next tip is to Know Your Rights. The first place to look is the loan papers you received at the time you purchased your home. Yes, you may have to dig for them, but you may already have some options available.

Next spend some time to learn about foreclosure laws in North Carolina or the state where you have the home or second home.

One place to look is the government website for the Department of Housing and Urban Development – HUD  Avoiding Foreclosure: North Carolina
Another website that has a good overview of NC Foreclosure law is stopforeclosure.com Here’s a link: North Carolina Foreclosure Law Summary

As always, if the Poling Team can help in any way, don’t hesitate to contact us. We’re also happy to give you a free no obligation market analysis of what your home is currently worth, just click here: What’s My Home’s Value?

 

Generally speaking, more buyers mean more demand for a seller’s home and more demand means more money.  Multiple listing services and broad website coverage offered in most agent assisted sales provides a platform for multitudes of buyers to access homes for sale in markets of interest to the buyer. In Raleigh, any one of thousands of agents could work with the buyer that will eventually purchase the seller’s home.  The seller isn’t left to his own sales ability, contacts or ability to fund advertising campaigns.  He buys into the network other agents working with buyers and all of their advertising capabilities as well as that one agent’s trained, professional ability to market a home according to his knowledge and skill in selling in that marketplace.

To summarize, sellers should have an agent-assisted home sale rather than selling by owner in transactions where homes must be placed on the open market.  Selling a home “by owner” brings a result which is 100% opposite to what sellers want in the sale of their homes, and they expose themselves to more danger and risk in the process. 

Call Art at ((19) 610-1104 to see how we can help sell your home – we’ll build a unique website for you, feature you on our blog and use our other advanced marketing methods to sell it quickly.

Visit our website at: The Poling Team to search all Raleigh area homes or get a free home valuation.

 

Sellers selling “by owner” put themselves, families and possessions in harm’s way by letting complete strangers into their home.  Are folks really there as a prospective buyer or are they looking over the home for another reason.  With an agent-assisted sale, the only people coming through the seller’s home will be qualified, serious buyers, who are accompanied by a licensed real estate agent. 

The Poling Team would love to help you sell your home. Visit us at www.PolingTeam.com

 

Reason #3 – “By owner” sellers have DIRECTLY CONFLICTING INTERESTS WITH THE BUYERS they hope to attract. 

A real estate transaction is adversarial for both seller and buyer.  Buyers are looking to get the best value for their money and sellers are looking to get top dollar.    Most buyers will not put themselves in the position of finding a property and negotiating a sale themselves, but instead will hire an agent to negotiate on their behalf.
 
In addition, a real estate transaction involves two of the hottest emotional buttons – peoples’ homes and their money.  In fact, it has been said that a real estate transaction is equal to death and divorce in terms of emotional stress for both buyer and seller … and that is in the best of circumstances with full representation on both sides of the transaction. 

Sellers selling “by owner” do not have needed representation for themselves.  Why would a seller want to position himself to negotiate a sale and follow through on details of a transaction (during a highly emotional and stressful time period) with a highly trained professional who is representing the buyer’s best interests, which directly conflict with his best interests?  Would he do this to “save” the commission that he would pay to a seller’s agent?  (Remember, he is already paying the buyer’s agent.)  Knowing the statistics, would that be the outcome he would likely receive?  Or would he be more likely to leave equity on the table for the buyer?
Continued …

 Want to learn more about our high level of personalized service in buying and selling a home? Visit our website at www.PolingTeam.com or Search for all homes in the Raleigh , North Carolina area:   Search Raleigh, NC Homes
 

Reason #1   Statistically and historically speaking, “by owner” sellers sell their homes for less than agent assisted home sales. 
By-owner home sales have a track record for selling less than agent assisted home sales – currently receiving only 85 cents on the dollar.  They’ve sold for less money every year since 1999, attracting bargain-hunters and investors who search out the by-owner market.
Why do FSBOs sell for less?  These strong market forces are at work causing by-owners to sell for less no matter what part of the country they are in.  Logically speaking, what buyer would forgo all the services offered FREE to buyers by agents and instead search out homes by owners?  A buyer who is looking for a discount home price.
To Be Continued…

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This NAR profile reported that for-sale-by-owner home sales in recent years are on a sustained decline and are now at a record low.
 
The most recent cyclical peak in the for-sale-by-owner market was in 1997 where by-owner transactions accounted for 18% of all homes sold.  In 2005, only 13% of sellers conducted transactions without the assistance of a real estate professional, and 39% of those for-sale-by-owner transactions were “closely held” between parties who knew each other in advance. 
In other words, they were never placed on the open market.  The FSBO market share was at 14% in both 2003 and 2004. NAR began tracking the FSBO market in 1981; since 1981, the record for-sale-by-owner market share was 20% in 1987.

The median home price for homes sold by-owner was considerably less than agent-assisted home sales.  In 2005, agent assisted home sales brought 16% more money than a home sold directly by an owner and there were no significant differences between the types of homes sold.
Continued in my next blog.

 The Poling Team would love to be your Raleigh NC Realtor. Contact us to receive a high level of personalized service.