Stand Up For Homeownership – Why Homeownership Matters Now More Than Ever

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RISMEDIA, January 14, 2011—As a real estate professional, you know that America is a nation of homeowners—67% of American households are owner-occupied. And housing is a key driver of our economy, accounting for 15% of our Gross Domestic Product in general. Research shows that for every home purchased, $60,000 is pumped into the economy for furniture, home improvements and related items. Plus homeowners pay 80-90% of individual federal income taxes, contributing to federal programs that benefit all Americans.

Yet many recent media reports question the value of homeownership and whether it is worthy of the tax benefits currently available. Some reports contend that changing federal policies and eliminating tax incentives that support homeownership, such as the Mortgage Interest Deduction, might even be in the public’s best interest.

For more than 100 years, members of the NATIONAL ASSOCIATION OF REALTORS® have championed homeownership as a fundamental part of the American Dream. Now more than ever, you must stand up for homeownership. And with the help of the NATIONAL ASSOCIATION OF REALTORS®’ (NAR’s) “Home Ownership Matters” campaign, you can help NAR spread the word about the value of homeownership to your clients, community and policymakers.

“There are some, mostly in academic circles and in the media, who have been questioning the value of homeownership and the importance of incentives for homeowners,” says Pamela Geurds Kabati, vice president of Public Affairs and Consumer Media. “They ask whether we wouldn’t be better off as a nation of renters. As an industry, we have to stand up and say, ‘Absolutely not.’ We need our voice to be loud and clear to influence the court of public opinion and policymakers. Homeownership provides homeowners, their communities, and our country with so many benefits.”

Why Homeownership Matters
Homeownership has a significant, positive impact on net worth, educational achievement, civic participation and overall quality of life. Owning a home is one of the best ways to build long-term wealth. In the past 12 years, a typical homeowner’s net worth has been 31-46 times that of a renter. Plus, most homeowners enjoy stable housing costs. In fact, studies show that fixed rate mortgage payments typically stay the same, while rent has increased at an average rate of approximately 3% per year in the last 10 years.

NAR contends that homeowners contribute more to their communities by voting and volunteering more. They do not move as frequently as renters, bringing stability to neighborhoods, which helps reduce crime and support upkeep.

And it has been shown that homeowners enjoy a better quality of life. They tend to be happier and healthier, and feel a greater sense of control over their lives. They are free to redecorate, renovate and modify their homes as they wish. And their children tend to do better in school and stay in school longer, according to a recent white paper by NAR titled “The Social Benefits of Home Ownership.”

Help Counter the Critics
To learn more about why Home Ownership Matters, visit www.REALTOR.org/homeownership where you’ll find everything you need to keep you current on the debate, including articles, stats and data, blog posts, videos, and webinars.

You’ll also find a wealth of resources that you can use to spread the word, including sample letters and articles you can adapt and send to members of the local media and a Home Ownership Matters widget that you can put on your website. You can also download a flyer and order Home Ownership Matters buttons you can hand out to clients. There’s also a free Mortgage Interest Deduction iPhone app, available through iTunes, which you can use to show renters how much buying power the deduction gives them or to show homeowners how much money it saves them.

NAR will continue to fight to preserve this important institution through advocacy and outreach to lawmakers, consumers and the media. NAR will continue to lobby policymakers in Washington, DC, and its consumer website, www.Houselogic.com, will help reinforce the benefits of homeownership to your customers and prospects.

So spread the word. Because homeownership really does matter

Realtors Encouraged by Signs that Economic Recovery Gaining Traction in New Year cbwesternregion | January 10, 2011 at 11:34 pm | Categories: Uncategorized | URL: http://wp.me/pKanM-3T

With the holidays behind us and a brand new year underway, Realtors, home sellers and buyers are all wondering what 2011 will bring to the Colorado housing market. After a choppy 2010 that saw strong activity early in the year and a softening in the second half, Realtors are encouraged that recent improvement in the economy could bode well for the housing market.

The real estate market is so closely aligned with the fate of the overall economy, the stock market and consumer confidence. In general, all three of those economic indicators have been recovering in recent weeks. And this week in particular gave housing market professionals reason for encouragement.

In his first appearance before the new Congress, Fed Chairman Ben Bernanke gave a more upbeat assessment of the economy that he has in the past. “We have seen increased evidence that a self-sustaining recovery in consumer and business spending may be taking hold,” the central bank chief told lawmakers.

Bernanke and another senior Fed official, New York Fed President William Dudley, said today that leading indicators for the labor market are pointing to a likely pickup in the pace of employment gains over the course of the year.

At the same time, the financial markets have rallied in recent months.  The S&P 500 and the NASDAQ have risen 10% and 12%, respectively, over the past three months. Our local Denver area companies continue to report strong sales and profits over the past year. All of this undoubtedly is having a positive impact on consumer confidence.

Finally, this past year’s holiday season provided some welcome news for retailers. U.S. retailers posted the strongest revenue growth since 2006. A Thomson-Reuters index of 28 leading retailers showed sales rose 3.1% at stores open less than a year.

But in all likelihood, the road to recovery will continue to be slow and occasionally bumpy. Don’t be surprised to see extremely upbeat economic numbers one month and a small setback the next.

For example, the Labor Department reported that the nation’s economy added 103,000 jobs in December and the unemployment rate dropped to 9.4% last month, its lowest level in 19 months. But the job growth fell short of expectations based on a strengthening economy. And the drop in unemployment was partially due to people dropping out of the labor force.

Nonetheless, despite two steps forward and one back, the overall economy appears to be trending upward. I’m cautiously optimistic the same will be true for our housing market in 2011.

Below is a market-by-market report from our local offices:

• Boulder – All categories are down due to the timing of the Christmas Holidays.  Historically, this two week period sees a drastic reduction in all categories.  Both our Agent base and the public seemed to focus on the holidays and their families.
• 

  Colorado Springs – Our showings have continued to be slow, partly because of the holidays.  Quite a few Realtors were off on vacation.  Our sales have followed suit by also being very slow with some buyers waiting to see if interest rates continue to go lower.  Listings have held steady with about 30% being short sales, needing lender approval before the property can be sold.

• Denver Central – Nothing to talk about really.  We had quite a few people that took a number of days off for the Holidays.  It was pretty slow around the office.  Everything here is looking forward to a better 2011!!
• Evergreen – We had only two new listings go on the market in December.  Our listing inventory has continued to decline as many unsuccessful sellers have withdrawn their homes from the market.  These homes will go back on the market in spring 2011 in hopes of doing better with improving market conditions.  Showing activity is declining due to seasonal variations although good weather this fall kept buyers out looking with 167 showings during the month.  Five listings went under contract in December along with five buyers that were put under contract.
• Longmont – The winter holidays are usually a quiet time for the Longmont market.  Not 2010!  In fact, the entire fourth quarter of 2010 was busier than usual.  What a nice way to end 2010 with lots of buying and selling activity.  Predictions are that the investors will continue to be active.  Interest rates will hold steady for the year and confidence in the real estate market is cautiously optimistic!
• North Metro – In November & December we saw a large increase in the number of homes going under contract. In December we saw a 25% increase from the month of October. The average selling price in our office is $267,000.  Listing inventory is slowly increasing as well.  The holidays did not seem to stop the buyers as they were out to open houses & meeting with our agents to look at homes.  We’re optimistic that the activity will continue throughout January.  The North Metro office is excited to have ended 2010 with the Market Share in Westminster, Broomfield, Thornton, Brighton & Erie.
• Parker – After the expected slowdown the last two weeks, we still closed a good number of transactions.  We are now seeing a spike of activity in theses first few days of the year.  Sellers are putting their homes on the market right away and we are having the highest number of buyer requests in months.  If the weather is cooperating we will have one of our largest property tours in the last three years.  That is the 2nd week of January!  We are looking forward to a great year!
• Southwest Metro – The last two weeks of the year showings were of course down.  There were however, great opportunities with buyers wanting to buy before year end.  Investors were out looking and ready to purchase.  Listings were down as most sellers wanted to wait until 2011 to list their homes.  Floor calls were great during the month and so were open houses.  We are seeing buyers wanting to take advantage of the low interest rates as we do not know how long they will stay at this great rate.  Several agents are gearing up for a good first quarter as they have listing appointments the first of the year and buyers ready and will to not only look but write.  The general opinion that we aren’t completely out of this market but things are starting to turn in the right direction.
• Denver West – Our Denver West Agents are very, very optimistic about the real estate market in the year 2011!  Our office finished strong in 2010 which was a good indicator of the upcoming year.  Everyone is very busy and selling homes.
• Conifer – We had one new listing for the month of December.  Our inventory is declining as unsuccessful sellers have withdrawn their homes from the market.  Two listings went under contract during December.  Our showing activity declined to 58 in December which is about 60% of the normal level during summer months.
• Loveland – Traditionally, the time period just before Christmas through New Years is a very quiet time for residential real estate.  Not so this season!  Showings continued during that period.  Well qualified buyers were looking for and making offers on homes.  It has been a good start to what we are predicting as a “better” year in real estate.

That’s it for now. Best wishes on a healthy and happy New Year, everyone!

Chris

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Coldwell Banker Colorado Weekly Market Watch Blog – A Year in Review! cbwesternregion | January 4, 2011 at 7:00 pm | Categories: Uncategorized | URL: http://wp.me/pKanM-3R

The stats helper monkeys at WordPress.com mulled over how this blog did in 2010, and here’s a high level summary of its overall blog health:

The Blog-Health-o-Meter™ reads This blog is doing awesome!.

Crunchy numbers

A Boeing 747-400 passenger jet can hold 416 passengers. This blog was viewed about 3,100 times in 2010. That’s about 7 full 747s.

In 2010, there were 33 new posts, growing the total archive of this blog to 34 posts. There were 87 pictures uploaded, taking up a total of 65mb. That’s about 2 pictures per week.

The busiest day of the year was January 8th with 108 views. The most popular post that day was It’s a New Year…But Is It a New Housing Market? .

Where did they come from?

The top referring sites in 2010 were cbmarketwatch-colorado.blogspot.com, cbagentinfo.com, mail.live.com, cbnorcalevents.com, and facebook.com.

Some visitors came searching, mostly for istock, happy memorial day, million luxury home, chris mygatt coldwell banker, and market quest and coldwell banker.

Attractions in 2010

These are the posts and pages that got the most views in 2010.

It’s a New Year…But Is It a New Housing Market? January 2010

Weighing Your ‘Personal Economy’ vs. Nation’s Economy When Deciding to Buy or Sell a Home October 2010
1 Like on WordPress.com,

About Chris Mygatt December 2009

Colorado Housing Market Coming Back to Life November 2010

Luxury Home Sales Come Back Down To Earth October 2010

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Colorado Housing Market Coming Back to Life cbwesternregion | November 12, 2010 at 11:35 pm | Categories: Uncategorized | URL: http://wp.me/pKanM-3D

‘Smart Money’ Moving Back into Luxury Market

The Colorado housing market continued to rebound in 2010 from its recessionary lows, although strong economic headwinds and the end of the federal homebuyer tax credit combined to slow the pace of recovery in the latter months of the year.

Both home sales and the median sale price of all housing – single family and condominiums – rose steadily throughout the first half of the year as buyers took advantage of bargain home prices.  As summer turned to fall, sales began to ease but the median sale price continued to climb in most parts of the Denver Metro region.

According to Metrolist*, home prices in the six county Denver Metro area **rallied from about $202,000 as of October 31, 2009 versus $212,000 as of October 31, 2010, resulting in a 4.9% increase in home prices for the region.  Sold listings year over year showed a reasonable decline with 2009 figures reporting 3,715 listings sold versus a total 2,658 listings sold as of October 31, 2010, resulting in a 39% decrease in sold listings.  We believe the dramatic decline in sold listings has much to do with the mid-year expiration of the federal first time home buyer tax credit as well as a stabilization of home prices.

Year over year (October 31, 2009 vs. October 31, 2010) the average days on market went from 49 to 54, respectively, resulting in a 10% increase.

An encouraging sign for the local housing market is that the upper end of the market has steadily been gaining momentum this year, though we have seen an ease in recent weeks. Luxury homebuyers, including a number of relocating buyers, are becoming much more active and are occasionally buying the homes with all-cash offers.  One point of distinction for Coldwell Banker Residential Brokerage, too, is that we were once again recognized as the luxury home leader.  According to Metrolist, Coldwell Banker Residential Brokerage is the leading real estate broker*** in home sales $500,000 and above, accounting for 11.2% of all home sales in this arena.  Our nearest competitor earned just 7.8% or a commanding 43.5% difference.

What’s causing the high-end to rally? Local agents tell us that there has been incredible pent-up demand among the moneyed class looking to buy. They’ve been out there scouting the market for quite some time but holding off until the time was right. Now that prices on luxury homes have come down sharply to levels we haven’t seen in a decade or more, they’re making the move. There is greater confidence among high-end buyers that we’ve seen the bottom of the market and prices will only rise from here.

Luxury buyers can hardly be blamed for thinking the market is offering more relative bargains than the Nordstrom’s half-yearly sale.  We have seen the luxury sector of local markets in Colorado stabilize and rebound off their recessionary lows.  Coldwell Banker Residential Brokerage’s latest luxury housing reports show:

• A total of 36 homes sold for more than $1 million in the Denver Metro area in September, down from 46 a year ago and 71 last month.
• However, the median sale price did climb more than 14% from August to reach $1,422,500 in September.
• The median price was off 2.9% from a year ago.
• The most expensive sale in the Denver Metro area in September was a six-bedroom, seven-bath 10,473 square foot home in Cherry Hills Village that sold for $7 million.
• Denver boasted the most million-dollar sales with 11, followed by Boulder with 5, Greenwood Village with four and Cherry Hills village with three.

In the past, luxury homebuyers – the so-called smart money – are often the first to declare a market bottom and jump back in because they have the cash and the means to do so once they are convinced the time is right. These buyers are astute observers of real estate trends and financial markets, and are often the first to see turnarounds in the macro economy.  Their confidence in the market often leads overall consumer confidence.

It will be interesting to see if the rest of the market follows suit again this time.  While the economy here in the Denver Metro area and across the country certainly has been sluggish and unemployment levels remain stubbornly high, it is encouraging to see solid improvement in the upper end of the real estate market. Only time will tell if it catches on to the rest of the market.

Now, let’s take a look at local real estate:

Boulder: Buyer showings and listing activity has increased in the Boulder office and is a reflection of the current marketplace.  The closings are up due mainly to the end of the month time frame that this period resides in, however, active taking backups and pendings while lower than the previous two week period are actually at a high level for this time in the month of November.  The office and the local market appear to be lining up for a strong November closing and listing month when compared to previous Novembers.

Colorado Springs: Showings have shown a steady decline over the past few weeks.  Listings have also slowed down about 20% over the past two weeks, with under contracts holding steady probably as a result of the continued low interest rates.  With rates dropping back to historic lows (4%) it is a good time to check with your Coldwell Banker Realtor about buying or refinancing your current loan.

Denver Central: We are actually steady in all categories compared to the last four weeks.  I’ve been having agents asking about lease options.  We have some desperate sellers as well as some shaky buyers.

Devonshire: With the warm weather that we are experiencing, it has helped to bring out buyers again.  We’ve had a slow few weeks and now seem to be in activity mode again.  The elections are over and that, together with the low interest rates, has created a burst of activity in showings & at open houses.  Most open houses last weekend had much better attendance than in the last few weeks.  Buyers still seem to be waiting for that “perfect deal” while sellers are not willing to move too much off of their list price.  Sellers right now are frustrated because even if their hoems seem to be priced right, some of them are not being shown.  It’s a challenging market to say the least but signs are out there that things will be steady in 2011.

Evergreen: Our listing inventory has begun to decline as many unsuccessful sellers are withdrawing their homes from the market during the holidays.  Many will go back on the market in the spring of 2011 in hopes of having better success with improving market conditions.  Show9ing activity is declining due to seasonal variations although good weather in the fall has kept many buyers out looking.  Several listings have gone under contract in the first part of November including two homes in the $900,000 price range.  Consistant with prior years, th enumber of showings typically decreases in the 4th quarter although the quality of showings improves as buyers still in the market are serious and motivated.

Larimer County: Oh the weather outside is frightful……..Well, Winter has arrived with our first accumulation of snow & with it a somewhat chilly activity outlook.  That being said, from what we see at the national level, the FED is apparently going to continue with plans for another infusion of cash to the system whereby interest rates will remain at unbelievably low levels. The increased buying power for folks looking to purchase has NEVER been better.  Prices in the mid-range seem to have stabilized & aren’t likely to drop substantially & are proving to be great values & popular sale items.  The high-end market has reached a level where mostly cash offers seem more common as the jumbo interest rates have come down substantially.  With prices of some million-dollar homes at more than 50% of what they were valued just a couple of years ago, there has been more robust activity in that arena than we’ve seen in quite a while.  Showings have dropped from the Summer highs – but remain steady as we creep toward Thanksgiving & have put the mid-term elections behind us.  For those still sitting on the fence – now is the time to take advantage; including Sellers looking to trade up.

Longmont: Buyers for upper end homes ($550,000+) are in the market to purchase.  Homes that are listed at a good value are experiencing multiple offers which means some Buyers must continue the process of looking.  Most Buyers are looking for great deals and are cautiously optimistic about this market.  Now is the time to find that move-up home.  Our inventory is holding steady.  Refinancing is very attractive right now.  Time to call your Realtor to ask about refinancing. You will need to know an idea of the current value of your property, and finding out about the feasibility of any remodel or looking at buying that dream home.

Parker: After a very strong September the activity has slowed down in October.  In Parker, sales decreased by 15% compared to October of last year and the inventory increased at the same rate from 689 to 810 homes. November however, looks strong again and we should exceed the number of sales from last month by a wide margin.  Our short sale and REO specialists report that it still requires additional time to close.

Southeast Metro: The market is buzzing with ready, willing & able buyers and the low, low interest rates make it a perfect time to buy.  The SE Metro office scheduled over 500 showings for our listings last week and we have over 90 properties scheduled to close in November.  This month our office successfully closed a Penthouse Condominium at a sales price of $1.4 million.  Houses priced in the $300,000 to $500,000 price range are seeing steady traffic & successful closings.  Properties priced below $200,000 are slow to move.  The luxury market is also experiencing steady traffic but longer days on the market.  It has never been more important for homes to be in excellent condition and priced at the current market value.

Southwest Metro: Showings have increased over the last three weeks.  We’ve had good results with our open houses as well as floor calls.  We’re also seeing an increase in our listing and buyers are starting to not only look but are becoming serious buyers.  The activity on our listings especially in the $350,000 to $500,000 price range has been very good.  There is a sense that sellers and buyers are ready to move forward and list their homes, get them sold and find something new.  Interest rates are great and at an all time low.  Buyers are finally coming to the realization that thus us the time to purchase.  There also seems to be an increase in the number of investors wanting to start buying homes.  Some are for fix & flip and some to use as rental properties.  This increased activity with sellers, buyers and investors is a very positive movement in the right direction.

Denver West: Activity has picked up.  Attendance at open houses is up substantially.  The $250,000 price range & below, open houses are flooded.  Buyers are seemingly getting off the fence, although some trepidation still exists at the higher price point.  On the other hand, we’ve placed several higher priced homes on the market and the activity has increased in the million dollar market.

Conifer: We’ve had two new listings for the month to date in November although inventory is declining as unsuccessful sellers are withdrawing their homes for the holidays.  Showing activity has held up well through October into early November primarily due to good weather although the quantity of showings is expected to decrease as we move into the holiday season.

Loveland: Beautiful fall weather has kept the Buyers looking.  Showings are stabilizing at the current level.  Good news, showings in the $400,000+ price range have increased.  Lenders are extremely busy with refinancing business, appraisers are busy with the same business.  Short sales continue to be a large part of the business in Loveland.  Listings seem to be holding steady….Sellers are pricing properties more competitively.

*Based on information from Metrolist and Information & Real Estate Services, LLC for the period LTM October 31, 2009 through October 31, 2010.  Specific comparison dates are October 31, 2009 versus October 31, 2010.  Data represents homes priced $0 to $99,999,999.  Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate.  Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy.  Data maintained by the MLSs may not reflect all real estate activity in the market.  Owned and Operated by NRT LLC.

**Six county Denver Metro area includes: Adams, Arapahoe, Boulder, Denver, Douglas and Jefferson.

***Based on information from Metrolist and Information & Real Estate Services, LLC for the period 1/1/10 through 10/31/10.  Data represents homes priced $500,000 to $99,999,999.  Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate.  Therefore, Coldwell Banker Residential Brokerage does not guarantee the data accuracy.  Data maintained by the MLSs may not reflect all real estate activity in the market.  Owned and operated by NRT LLC.

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Coldwell Banker Residential Brokerage Sponsors Annual Winter Coat Drive for Troops and Veterans cbwesternregion | November 1, 2010 at 6:46 pm | Categories: Uncategorized | URL: http://wp.me/pLh36-7P

Coldwell Banker Residential Brokerage, Colorado’s leading real estate company, is once again sponsoring the company’s annual Winter Coat Drive to benefit troops and veterans.  During the months of October and November, Coldwell Banker Residential Brokerage is teaming up with families, friends and clients to donate clean, new, or slightly worn coats and warm clothing to our troops, veterans and their families in Colorado.

“With fall in the air and winter just around the corner, now is the perfect time to donate unwanted coats and warm garments to the families of our military personnel and veterans as part of our annual Winter Coat Drive,” said Chris Mygatt, president of Coldwell Banker Residential Brokerage in Colorado.  “Together we can make a difference in the lives of men and women who are serving and have served our great nation.  Thanks for your support.”

Donations may include winter coats or ski parkas for kids and adults, professional wool coats or blazers, and snow boots or goulashes for kids and adults.  You may also donate warm hats, scarves, overcoats, gloves, warm blankets and sunglasses.  Please drop off your bagged donations to any Coldwell Banker Residential Brokerage office along Colorado’s Front Range, or contact one of the company’s real estate professionals to arrange a personal pick up at your home.

For Coldwell Banker Residential Brokerage office locations and contact information, visit online at www.ColoradoHomes.com.

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When it comes time to sell your home, doing the job yourself certainly has its appeal.

For one thing, think of the savings you’ll pocket — potentially tens of thousands of dollars or more — if you cut out the real-estate broker. But the headache and work involved may not be worth the savings for some.

Find out whether you’ll be able to sell your own home and what to expect if you choose this route.

Exposure
Your first consideration should be whether you can get the word out. Sure, you can put a sign on the lawn and make a number of relevant Internet postings, but be aware that you’ll be missing out on the following:

• An established real-estate brokerage will have a network that reaches far beyond the city or town where you’re located. In most cases, it can find qualified buyers both regionally and internationally and may even be retained by large corporations on the hunt for executive accommodations. These networks are well-budgeted and well-managed, and have a professional staff dedicated to generating sales for their clients.
   
• Most brokerages will pay for print advertisements in local and some national media outlets. They may also target and distribute circulars throughout your city. Consider the costs of doing this yourself.
• Real-estate firms have in-house marketing strategists who know what buyers want to see and can package your home appropriately, producing color photos, feature sheets and other materials for both brokers and potential buyers.

Not getting enough exposure may result in your property sitting on the market for a long time. If it sits long enough, you’ll likely be forced to sell at a lower price. A home that sits too long on the market can also become stigmatized, leaving you without any traffic. People think, “There must be something wrong with it if it hasn’t sold already.”

Market information
The real-estate market is dynamic, always in flux, with prices moving constantly — sometimes quickly, sometimes less so. If you can’t correctly gauge the market’s direction and speed, you may also fail to assess your home’s correct value. This effectively renders you “out of market” and results in you selling your home unnecessarily cheaply or — until you correctly assess its worth — overpricing it and waiting.

Article continues below

Contrast this with the instant access a real-estate agent has to home-sales information. Most real-estate offices are equipped with software that can generate instant comparative market analysis pricing, a system that takes the subjectivity out of the process and provides an immediate selling range. In active markets, this is an invaluable resource.

Negotiating ability
This may be the most oft-overlooked part of the do-it-yourself process, and one that should not be considered lightly. Do you possess the skills necessary to successfully negotiate the sale of one of your most valuable possessions? Can you effectively manage the process through to a close against a seasoned broker or real-estate lawyer?

Remember that you may be up against professionals who are keen negotiators and know the sales process well. They may suggest all sorts of terms and conditions that sound reasonable but really aren’t in your best interest. Even an unseasoned real-estate agent is likely to be aware of the implications of various terms and conditions — will you be?

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If you have never been involved in serious negotiations with savvy professionals, you are at a serious disadvantage. Your lack of experience could negate any of the benefits of having done it yourself.

Should you choose to have your real-estate lawyer negotiate the sale, the fees may be even higher than those of a broker; the tradeoff is that you may get a higher level of expertise.

Legal issues
Perhaps the most dangerous aspect of the home-selling process involves contracts and closings, for which you will require the services of an expert who understands contracts and can steer the process to a legally sound conclusion. Many closings have been marred by legal niceties that led to unexpected outcomes or, worse, lawsuits, and ultimately a failure to sell at a price and time of your own choosing. Unless you are a lawyer yourself, this is one aspect of the process that you should not undertake without professional assistance.

Value-added services
Large real-estate firms now offer numerous value-added services, such as pre-qualifying buyers for financing — and in some cases providing the financing itself. If you are not using such a firm, realize that your deal may wait until financing can be secured, and that time delays often produce buyer’s remorse — a condition that sees potential buyers talking themselves out of a deal the minute they walk out your door. Better always to lock the deal shut as soon as possible. That means having the resources at hand to do so.

The eccentricity factor
Are you reducing the number of potential buyers because you haven’t listed with an agent? Some house shoppers will be apprehensive about engaging a “for sale by owner” simply because it’s not the norm. Anxieties and apprehensions will steer some people away from visiting your home. For a lot of buyers, an established brand name and a sales professional with polish are more palatable. Ask yourself whether your decision takes you outside the real-estate mainstream.

• Facebook users: Become a fan of MSN Real Estate

Your time
There is little doubt that you can fill an agent’s shoes and sell your own home — but it will take preparation to do it successfully. How much time do you have? And what’s your time worth? In the end, you need to determine whether your investment of time and energy will be repaid by the commission you save.